New listings from the week ended Feb. 20 nearly mirrored the amount added to Houston Multiple Listing Services during the same time period in 2022, according to the Houston Association of REALTORS® latest Weekly Activity Snapshot. Realtors entered 2,548 new properties into the MLS, a 2.9% year over year decrease.

Pending listings, on the other hand, continue to trend below 2022 amounts. There was a 25.1% decrease in homes that went under contract.

Yet again, off-market listings continue to tower over levels from a year ago. Realtors pulled 1,124 homes from the market during Week 7 — a 37.8% year over year decrease.

Home sales remain relatively low compared to levels recorded in February 2022. 24.7% fewer properties went under contract during the week, which represents seven straight weeks of year-over-year closing declines.

However, consumer traffic at showings isn’t far off from amounts seen last February. Over 40,000 potential homebuyers viewed properties during the week (an 8.5% decrease year-over-year).