New listings were down 6.6% year over year in the week ended Oct. 31, according to Houston Association of REALTORS®’s Weekly Activity Snapshot. This drop represents the fourth week in a row with year-over-year declines.
Pending listings also trailed behind 2021 levels, with 1,756 properties going under contract in the past week, compared to 2,693 properties that went under contract in the same week a year ago. That 34.8% decrease marks the 26th week in a row of year-over-year declines.
Closings continued to decline as well. For the 21st week in a row, closings trailed 2021 levels. This past week, 1,861 home sales were closed (a 29.6% year over year decrease).