Redfin attributes the drop to the record high mortgage rates, recession concerns, record low inventory, extreme winter weather and the holiday slowdown. 

Continuing a trend seen in the final months of 2022, off-market listings soared over 2021 levels in the final week of the year.

A record share of sellers are giving buyers concessions including money for repairs and mortgage-rate buydowns.

Despite the fact that new listings have decreased year over year, consumer interest has also waned, creating a surplus of available properties.

Rental website RentHop has updated its list of the least affordable cities for singles — and the Bayou City has risen in the ranks.

Geographically, the largest home-price increases took place in the Southeast, led by Florida (18%), South Carolina (13.9%) and Georgia (13.6%), CoreLogic reported, citing its November Home Price Insights report.    

Rental analysis website RentCafe has identified Houston as the Texas rental market that heated up the most during 2022’s peak rental season.

Homes linger on market longer as buyers take their time.

“Showings typically slow to a trickle during the last two weeks of the year because of the holidays, and 2022 is no exception,” HAR’s report reads.

Regionally, the pending-sales index fell 7.9% month over month in the Northeast, 6.6% in the Midwest, 2.3% in the South and 0.9% in the West. 

Houston ranked seventh overall, with TheCreditReview citing “overall residential financial health” across the Bayou City.

At the same time, the median sales price of a new house slid to $471,200 from $484,700 in October and $430,300 a year earlier, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported. 

The Houston Association of REALTORS® put out a report detailing the 10 most-expensive home listings across Texas this month.

As 2022 draws to a close, new and pending listings in Houston still trail 2021 levels.

The month-over-month decline in sales came as prices rose for the 129th consecutive month, the National Association of REALTORS® said. 

Texas ranks as the second-greenest state in the country when it comes to solar power, trailing only behind California.