Residential listings in Houston are plummeting both on and off the market. New listings decreased this week and are in their third consecutive week of decline, Houston Agent magazine reported.
Agents entered 2,982 properties into the city’s Multiple Listing Service last week, according to the Houston Association of Realtors snapshot report the story was based on. That’s a 5.1 percent decrease from the same week in 2021.
The biggest decline from last year was for pending listings during the week that ended April 25. It fell 29 percent, with 2,302 property listings going under contract, compared to 3,242 last year.
Sellers withdrew fewer listings from the MLS last week than they did during the same week in 2021. Off-market listings decreased by 19.8 percent year over year, however. The status of 731 residences changed from active to off-market this week, compared with 911 for the same period last year.
Closings were flat after declining 9.5 percent from the previous week. Closed sales of homes totaled 2,226, a 0.4 percent increase over 2021. There were 45,340 showings, compared with 49,314 during the same week last year — a decline of 8.1 percent.
[Houston Agent Magazine] — Cindy Widner