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).

The first week of October saw a drop in new listings, falling 18.4% from last week’s fleeting inventory surge.

Asking prices for homes reached an all-time high in September, despite pending sales and new listings cooling.

Housing affordability has changed across all 50 top markets, proving to be more affordable than it was during the previous housing peak, according to First American Financial’s latest Real House Price Index.

Houston’s housing inventory appears to be on a slight rebound, as new listings rose 1.5% during the last week of September, breaking a three-week run of declines.

Houston’s inventory of new listings continues to spiral downward from previous weeks, dropping 20.1% from a year ago, according to data from HAR.

Market competition has eased up recently, but seven in 10 buyers still face bidding wars, according to a new report from Redfin.