New listings up 6% in the fifth week of 2023

by Emily Marek

New listings have made a slight year-over-year increase, according to the Houston Association of REALTORS® Weekly Activity Snapshot.

Realtors entered 2,642 new properties into the Multiple Listing Service during the week ended Feb. 6. That’s a 6% increase over the amount entered during the same time period in 2022, when 2,492 new properties were entered.

Area-wide increases in inventory have led to an increase in listings pulled from the market, continuing a trend seen throughout the end of 2022. Off-market listings were 66.3% higher than they were in January 2022 during the fifth week of the year.

While closings were still down during the week, home sales seem to be narrowing the gap of year-over-year declines. Closed home sales were down 16.6% year over year, with 1,439 properties sold compared to 1,726 during the same time period last year.

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