A new report from the Houston Association of REALTORS® (HAR) revealed that new Houston listings continue to trail 2021’s mid-August pace, with 10.7% fewer properties entering the Multiple Listing Service (MLS) last week than a year ago during the same period.
Realtors entered 2,739 properties into the MLS compared to 3,068 in week 32 of 2021.
Pending listings have been consistently lower than last year, a trend that began in mid-May. A total of 1,994 property listings went under contract during the week ended August 15, down 30% from last year’s 2,850. This drop marks the 15th consecutive week of declines.
Sellers withdrew more property listings from the MLS during week 32 than during the same week last year as the Houston housing market continues its long-awaited stabilization. Off-market listings were 13.7% above where they were in 2021, with 1,185 homes going from active to off-market compared to 1,042 last year.
Closings continue tracking below last year’s levels as the market returns to a post-pandemic pace. Closed home sales totaled 1,783 last week, a 19.8% decline from 2,222 in 2021.
Property showings remained steady during week 32, although they were down compared to last year. Showings attendance totaled 37,828 versus 40,656 during the same week in 2021, a 7% decline.