Interest in the residential housing market is strong as listing activity across Greater Houston remains steady, albeit slower-paced than last year, according to a new report by the Houston Association of REALTORS® (HAR).
The volume of pending listings is also trailing last year’s pace. A total of 2,127 property listings went under contract during the week ended June 27 compared to the previous year’s 2,975, a 28.5% drop.
Off-market listings were flat in week 25, with sellers withdrawing the same number of property listings (926) from the MLS as they did during the same week in 2021.
Closings slowed for a third week as surging home prices, rising mortgage rates and limited inventory forced many prospective buyers to put their purchasing plans on hold. Closed home sales totaled 2,203 versus 2,504 last year, a 12% year-over-year decline.
Attendance at showings across Greater Houston dropped to the second-lowest level of the year, down 22.6% from week 25 last year. Showings attendance totaled 37,342 versus 48,225 in 2021.