HAR: Sellers pulling homes from the market

by Emily Marek

Aerial view of skyscrapers in downtown Houston, Texas, USA.

The Houston Association of REALTORS® Weekly Activity Snapshot shows year-over-year decreases in new listings, pending listings and closings, with a hefty increase in off-market listings.

New listings are back to trailing 2021 levels, with 2,044 properties entered into the MLS during the week ending Dec. 12. That’s a 4.9% decrease from the 2,149 properties entered during the same week in 2021.

Pending listings and closings continue to trail behind 2021 as well — 26.9% less listings went under contract year over year, while 34.1% less home sales were closed.

In contrast, off-market listings increased by 61% year over year, with a total of 1,211 homes pulled from the market during the week ending Dec. 12. Last year, that figure was much lower at only 752.

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