The Houston Real Estate market is starting to look a little more like normal (the pre-pandemic normal).
We are seeing more listings go on the market which is a good thing for buyers resulting in a little less competition.
Let’s take a look at the number of new listings, Pending transactions, closings, and scheduled showings this past week (according to HAR).
Table of Contents
New Listings in Greater Houston
New listings gained a little ground during the week ending October 5, which is helping to replenish Houston’s housing inventory (number of houses being sold).
Houston Realtors added 2,977 properties to Houston’s Multiple Listing Service (MLS) compared to 2,871 last year. That’s an increase of 3.7%!
Pending Listings in Greater Houston
Pending listings continue to track well above the 2019 volume, with 12.2% more listings going under contract.
Closings in Greater Houston
Home closings rose sharply during Week 39, achieving the eleventh consecutive positive week.
Closed sales of homes totaled 2,832 for the week ending October 5 versus 2,120 for 2019. That is an increase of 33.6%.
Scheduled Showings
The number of appointments for property showings fell slightly below 2019 levels. A total of 40,927 showings were recorded which is a year over-year decline of 2.4%.
Listing Views on HAR
Overview
Overall, the Houston real estate market is heading in a good direction. There are more houses going on the market each week and demand is starting to go back to normal levels.
For buyers, this means you can shop with a little more confidence that you wont find yourself competing against other buyers.
If you are thinking about selling your home, this would be the time to get your home on the market. Demand is still higher than the current supply, but the market is starting to shift.
So if you are ready to make a move, let’s schedule a time to talk about your current situation. After all, I am always available to give you my advice!
Just use my calendar below to schedule a good time to talk. ⬇️
Also, make sure you check out our ZeroPlus program to lock in the best rate on your next mortgage!