The volume of new Houston listings remained steady last week as they struggled to keep up with their 2021 pace, according to a recent Houston Association of REALTORS® (HAR) report.
According to HAR’s most recent weekly activity snapshot, Realtors entered 3,104 properties into the Multiple Listing Service (MLS) versus 3,514 during the same week last year, an 11.7% drop.
Pending listings remained below last year’s levels, marking the most significant disparity in year-over-year pending comparisons this week. A total of 1,929 property listings went under contract during the week ended August 8 compared to 2,951 in 2021, a 34.6% drop, marking the 14th straight week of declines.
Sellers withdrew more property listings from the MLS during week 31 than during the same week last year as the Houston housing market continues to normalize. Off-market listings were 19.6% above where they were a year ago. A total of 1,289 homes went from active to off-market compared to 1,078 last year.
Closings fell for the ninth week as buyer demand softened and the market moved toward pre-pandemic levels. Closed home sales totaled 1,820 versus 2,345 in 2021, a 22.4% decline.