By Lindsey Wells
Houston’s inventory of new listings continues to spiral downward from previous weeks, dropping 20.1% from a year ago, according to the Houston Association of Realtors (HAR) weekly activity snapshot.
During week 37 (ending Sept. 20) of this year, Realtors entered 2,302 properties into the Multiple Listing Service (MLS), down from 2,882 the same week last year. Despite this, new listings are trending above 2020 levels.
Pending sales were also still down, with a total of 2,247 listings under contract compared to last year’s 2,796.
Off-market listings decreased 28.9% from the same period in 2020. Sellers withdrew 916 homes from the MLS compared to 1,289 last year.
Sold listings ended a six-week positive run with a slight decline during week 37. A total of 2,175 listings closed, down from 2,205 last year: a 1.4% decrease.
Showings continued to draw fewer consumers than they did last year. Year-over-year traffic at Houston property showings was down 34.6% for a volume totaling 28,026 compared to the previous year’s 42,833. In addition, HAR.com listing views were down 16% from the same week in 2020.