New listings of homes in Houston decline again

by Lindsey Wells

New listings have slowed again in Houston’s real estate market, falling 8.9% during the week ended Oct. 18, according to the Houston Association of Realtors (HAR) weekly activity snapshot. 

This nearly 9% decline followed a 1.3% year-over-year decline in the preceding week. Realtors entered 2,484 properties into the Multiple Listing Service (MLS) compared to 2,726 the previous year. Still, new listings overall are trending above 2020 levels.

Pending listings were also down for the second week in a row during week 41, dropping 13.9% from last year. A total of 2,308 property listings went under contract compared to 2,681 during the same week in 2020. This could signal a slower pace of closings in the coming weeks, according to the report.

Off-market listings remained 32.2% below where they were at this time last year. A total of 807 homes went from active to off-market status during the week, compared to 1,191 in 2020. 

Sold listings were down slightly (5.5%) during week 41, although they still exceeded 2020’s levels overall. Closed sales of homes totaled 1,995 compared to 2,110 during the same week last year. On a year-to-date basis, local home sales are 15.3% ahead of 2020.

Once again, showings were less active than during the same week in 2020, falling 14.1% year-over-year. Showings volume totaled 32,674 compared to last year’s 38,056.

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