New listings lost some momentum as families turned their attention to sending kids back to school according to Houston Association of Realtors. However, new listings are generally trending above year-ago levels. For the week ending August 16, Realtors entered 2,901 properties into MLS compared to 3,227 a year ago, accounting for a 10.1% decline.
Pending listings lagged for a 12th consecutive week during the week ending August 16. A total of 2,431 property listings went under contract versus 2,939 in week 32 of last year. That is a 17.3% year-over-year decline in the number of listings that went under contract.
Sellers withdrew fewer property listings from the MLS in week 32 than during the same week in 2020. Off-market listings remained 23.9% below their level in Week 32 of last year. A total of 1,005 homes went from active to off-market compared to 1,321 last year.
Local homebuying volume edged up for a second straight week during week 32 despite ongoing inventory constraints. Closed sales of homes totaled 2,226 versus 2,139 for the same week last year. That is up 4.1% from year-ago volume.
Year-over-year traffic at Houston-area property showings fell 15.0% for the week ending August 16. The number of showings totaled 40,169 during week 32 versus 47,242 for the same week in 2020.
See more at Houston Association of Realtors