It’s pretty obvious right now, things are crazy. Just in case you didn’t already know this.
And the Houston’s real estate market is no exception. Let’s dive into this weeks numbers.
New Listings
The number of new listings continues to go down for our 4th week in a row.
With less inventory on the market, this makes it more competitive for buyer who are wanting to buy a new house.
Pending Listings
The number of pending listings is also down again this week. This due in part to the number of listings that are available.
Luckily, in our area (the bay area) the number of houses pending are the same as the number of houses going on the market.
This means our local market is doing a little better than larger city of Houston.
Closings
While listings and overall pending transactions are going down, the opposite is true for closing.
This is due to our spike of houses 4 to 5 weeks ago. These houses are not making it to closing.
This number will likely go down in the following weeks.
Showings
Showings have gone down for the second week in a row.
Although it is impossible to really say why but I do have a few ideas.
1st: With the over all number of new listings going down, there are less houses on the market to go out and see.
2nd: With Covid numbers going up, there might be some fear about going out to see houses in this time.
As a side note, if you are thinking about buying or selling but are worried about the virus, we do have several solutions in place to keep you save in the buying and selling process.
You can even schedule virtual showings of properties through the KW app (you can download it here)
So if you are thinking about buying or selling, give us a call so we can discuss the options available to you to help keep you safe!
HAR Website Views
The Houston Area Realtors (HAR.com) reports less website traffic on their site this week. This is now several weeks of declining website traffic.
People viewing listings is still holding strong over 2019 which is likely due the pandemic and stay at home requirements/recommendations.
Are you thinking about buying a new house soon? Make sure you are getting access to insider information through the KW App.
Information you will not find anywhere else like neighborhood insights from the people living there, school performance, and near by amenities.
Check it out by clicking here.