New listings were up 0.7% during the week ending Jan. 16, according to the Houston Association of REALTORS® Weekly Activity Snapshot.

Despite the positive momentum for new listings, pending and closing listings are down year-over-year; the amount of homes under contract decreased by 33.6%, while closed home sales trail 2022 levels by 28%.

Furthermore, while off-market listings have decreased from the extreme highs seen in December, sellers still withdrew 51% more properties from the Multiple Listing Service than they did during the same week in 2022.