New listings have proven difficult to predict in the first 12 weeks of the year, according to the Houston Association of Realtors® latest Weekly Activity Snapshot.
Realtors added 2,651 properties to the Houston housing market during the week ended March 27, a 4.9% decrease year over year and a 18.6% decrease from the same year in February 2019. New listings are up month-over-month.
Pending listings have largely kept pace with 2019 volumes so far this year — 2,484 properties went under contract during Week 12, compared to 2,546 in 2019. Last year, pending listings were nearly 13% higher, with 2,474 properties going under contract.
Off-market listings are also up from last year. Over 1,200 properties were pulled from the Multiple Listing Service (MLS) during the week ended March 27, an 85.9% surge over last year’s numbers.
Closings were down for the twelfth week in a row. There were 1,652 home sales completed during the week — a 27.5% decrease year over year. Closings were up 4.6% from March 2019.
Listing views on HAR.com trail both 2022 and pre-pandemic levels.