Despite incremental increases in new listings throughout January, new listings fell 10.7% below 2022 levels in the fourth week of January.

According to the Houston Association of REALTORS®, Houston Realtors entered 2,178 properties into the Multiple Listing Service during the week ended Jan. 30, which is a 10.7% decrease from the same period last year. Pending listings are down significantly as well, decreasing 27.1% year over year.

However, off-market listings are returning to normal levels: only 12% more listings were pulled from the MLS during the week ended Jan. 30, which is a vast improvement from the amount pulled in December 2022.

Closings also continue to trail year-over-year numbers. Only 1,217 homes went under contract during Week 4, compared to 1,904 properties during the same week in 2022 (a 36.1% decline).

Showings were down as well, which HAR attributes to turbulent weather experienced in the Houston area. Consumer traffic in the fourth week of 2023 was down 8.7% year over year.