New listings fall to four-week low

by Lindsey Wells

New listings saw their most significant drop of the year in week 30, marking the fourth week of declines, according to the latest Houston Association of REALTORS® (HAR) report.

HAR’s weekly activity snapshot shows that Realtors entered 2,949 properties into the Multiple Listing Service (MLS) last week versus 3,554 during the same week in 2021, a 17% decrease.

Pending listings remain in a downward spiral that began in May. Last week, 1,975 property listings went under contract compared to 2,923 the same week in 2021. This 32.4% drop marks the 13th consecutive week of declines.

Sellers withdrew slightly more property listings from the MLS during week 30 than during the same week last year. Off-market listings were 0.8% above where they were a year ago, with 1,344 homes going from active to off-market compared to 1,334 in 2021.

Closings fell for the eighth week, with closed home sales totaling 2,499 versus 2,826 the previous year, an 11.6% year-over-year decline.

Property showings during week 30 continued to reflect the summer doldrums compared to the same week in 2021. Showings attendance totaled 36,559, down 12.3% from last year’s 41,709.

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