Breaking a streak of year-over-year decreases, new listings in the Houston Association of REALTORS® Multiple Listings Service were up 3.3% in the first week of 2023.

Realtors entered 2,535 new properties into the Houston MLS during the week ending Jan. 9, marking a small increase over last year’s inventory of new listings. However, pending listings still trail last year’s levels by 31.3%.

Off-market listings are nearly 70% higher than they were during the same week in 2022 — Houston saw unprecedented levels of off-market listings toward the end of last year, and this trend doesn’t appear to be slowing down. Over 1,400 homes were pulled from the market from Jan. 3 to Jan. 9, compared to only 841 during the same time period in 2022.

Closings are down as well, and although traffic at showings has decreased YOY it has rebounded from the Christmas season slump seen in December 2022.