The volume of new listings in Greater Houston lost traction last week compared to the same week in 2021, as the housing market continues to cool down throughout the metro.
Houston’s single-family rental market saw heightened activity in June as record-high pricing, rising interest rates and limited inventory continued to present challenges for hopeful buyers.
Single-family home sales fell 8.6%, marking the third consecutive monthly decline with 9,728 units sold compared to 10,649 in June of 2021.
New listings in Greater Houston are trending closely to last year’s numbers, although slightly lower than during the same week in 2021, according to a new report from the Houston Association of REALTORS® (HAR).
Realtors entered 3,095 properties into the Multiple Listing Service last week, up by just four listings compared to 3,091 in 2021, HAR reports.
New listings rose 8.9% in June, with Realtors entering 15,238 properties into the Multiple Listing Service (MLS) versus 13,988 a year earlier.
The housing reservoir remains critically low in the Houston real estate market as demand and home prices continue to surge. Realtors entered 3,303 new listings into the MLS last week, 3.9% fewer than the same week in 2021.
The Houston Association of REALTORS® reports Houston listing activity is steady yet trailing last year’s volume by 6.7%.
Single-family home rentals rose 24.8% year over year in May, with average rent prices increasing 11%, according to a new report by the Houston Association of REALTORS®.
New listing activity was vibrant during the first week of June, although it trailed the previous year’s numbers by 4.4%, according to the Houston Association of REALTORS®.