The Houston Association of REALTORS® Weekly Activity Snapshot shows that new listings are down 1.2% year over year. Only 2,649 properties were entered into the Multiple Listing Service (MLS) in the past week.
Pending listings also trail behind 2021 levels. A total of 1,927 properties went under contract, marking a 28.6% decrease year over year.
Off-market listings continued to surge this week, with a 45.4% increase in listings withdrawn from the MLS.
The report also found that closings are down for the 19th straight week. Closed home sales amounted to 1,546 for the week ending Oct. 17, which represents a 22.4% decrease compared to the same week in 2021.