“Fewer homes are selling because of a lack of supply, while demand remains strong.” — Redfin chief economist Daryl Fairweather

The number of new listings in the Houston real estate market continue to trail 2020 levels as they closed out their sixth consecutive week of declines on Dec. 20, according to the Houston Association of Realtors (HAR) weekly activity snapshot. 

While Houston saw an increase in new home listings after Thanksgiving, numbers for the week ended Dec. 6 are still trailing behind the same time period last year, down 6% compared to 2020.

As more money is being spent on real estate than ever before, the booming market is on pace to shatter records this year, according to a recent CoreLogic report.

During week 47, real estate agents entered 1,359 properties into the Multiple Listing Service for the week ended Nov. 29 compared to 1,563 during the same period last year.

Investors across the country are looking to cash in on skyrocketing house prices and rents, putting them in competition with new buyers trying to work their way to homeownership. Real estate investors bought a record 18% of the homes sold in the third quarter, according to a new Redfin report.

New Houston listings gained momentum in suburban and rural areas in November while remaining sluggish in urban areas, according to the Houston Association of Realtors (HAR) Multiple Listing Service (MLS).

The demand for housing in the U.S. has reached a new all-time high since 2017, a rare occurrence for this time of year when the market typically slows. According to a Redfin report, a recovering economy and all-time low mortgage rates are critical factors in the current market. 

Demand for second homes was up 70% from pre-pandemic levels in October, according to a new report from Redfin. This outpaced August’s 48% gain but was below January’s record 91% growth.

New home listings continued to lag behind 2020 levels for the fifth consecutive week, according to the Houston Association of Realtors weekly activity snapshot. 

New listings lagged behind their 2020 performance for a fifth consecutive week during Week 43. Realtors entered 2,376 properties into the Multiple Listing Service (MLS), down 13.3% from 2,739 during the same week last year, according to the Houston

Boston and Raleigh had the highest bidding-war rates, as the rate fell to a 2021 low.

The outside temperature isn’t the only thing cooling off in Houston as October comes to an end. New listings in Week 42 were down 8.1% compared to the same time last year, according to the Houston Association of Realtors

Lack of inventory continues to restrict home sales as fewer homes sold in September, and closed home sales dropped.

The humming Houston real estate market is positioned for a record finish as it heads toward the final quarter of 2021. 

Despite supply and lot availability shortages, Houston’s continued new-home growth is strong and home building outlook remains positive, according to a report by the Greater Houston Builders Association (GHBA).