New listings remain low as holiday season closes

by Lindsey Wells

Panorama of downtown Houston. Houston, Texas, USA.

With most consumers still in holiday mode during the final week of 2021, new Houston listings fell short of last year’s numbers for a second consecutive week.
Realtors entered 1,502 properties into the Multiple Listing Service (MLS) during week 52, down 2.9% from the same time last year, according to the Houston Association of REALTORS® weekly activity snapshot.
Pending listings dropped 18%. A total of 1,417 properties went under contract during the week ended Jan. 3. This marks the steepest drop in pending listings since week 21, when they fell 17.7%.

Sellers withdrew significantly fewer property listings from the MLS than the same week in 2020. Off-market listings remained 28.2% below where they were last year, with a total of 1,695 homes going from active to off-market status versus 2,359 in 2020.
Closed sales of homes totaled 2,275 versus last year’s 2,480, an 8.3% decline. However, on a year-to-date basis, local home sales have been about 12% ahead of 2020 levels, the report noted.

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