Pending listings in Houston continued to slide for the fourth straight week in the week ended June 21, as new listings also lost their momentum, according to the Houston Association of Realtors (HAR) Weekly Activity Snapshot.
New listings had increased during the previous two weeks, and it looked like some of the pressure was starting to lift from Houston’s record-low inventory. However, that changed last week, when Realtors entered 3,232 properties into the Multiple Listing Service, representing a 0.4% decline from 3,245 during the same period last year.
Pending listings slid to 2,645 properties, compared to 3,191 in the same week of 2020, a decrease of 17.1%. This stayed on trend with the preceding week, when a total of 2,640 property listings went under contract.
Off-market listings fell 32.1% during the week, with sellers withdrawing a total of 874 homes, compared to 1,287 a year earlier. This is even lower than the 26.9% drop in off-market listings that occurred in the previous week.
On the other hand, closings stayed robust, showing the strength of the market. There were a total of 2,457 home closings during the week, compared to 2,190 a year before and representing a 12.2% increase.
Showings and HAR.com page views were down 1.4% and 17.2%, respectively, indicating that interest in home buying could be starting to cool.