After a much-needed boost last week, new listings plunged 10.3% year over year during the week ended April 11, according to the Houston Association of REALTORS® (HAR) weekly activity snapshot.
Realtors entered 2,884 properties into the Multiple Listing Service (MLS) versus last year’s 3,215.
Pending listings slid 17.6% in week 14 following a 5% increase one week earlier. A total of 2,610 property listings went under contract versus 3,169 during the same week in 2021. That marks the sharpest weekly decline of 2022, the report noted.
Sellers withdrew 20.5% fewer property listings from the MLS during week 14 than last year. A total of 642 homes went from active to off-market status, down from 808.
Closings remained in positive territory for a fourth consecutive week of gains. Closed sales of homes last week totaled 2,021 versus 1,992 in 2021, a 1.5% increase.
Consumer traffic at property showings around Greater Houston was steady but down considerably compared to the same week last year. Attendance fell 16.9%, with showings volume totaling 45,836 this year versus 55,144 in 2021.