Do you feel like this year has been the longest year ever, and also flown by at the same time? As I am working on this months market report, I am just a little shocked it is already November.
Anyhoo…
October continues our trend of creeping back to normal numbers (normal being 2019) although housing inventory still remains low in the Houston Area. The number of listings on the market and the number of buyers on the market are generally where they were last year.
With that said, let’s take an in depth 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
With the number of houses on the market at its lowest level in years, new listings got a much-needed bump in activity following two weeks of declines.
Pending Listings in Greater Houston
Pending listings still lead 2019’s volume, but the gap is narrowing. Property listings that went under contract in Week 42 totaled 2,146 compared to 1,960 a year earlier
Closings in Greater Houston
Reported home closings were up again marking the 14th consecutive week of gains over last year. Closed sales of homes totaled 2,042 for the week ending October 26 versus 1,581 for the same week last year remaining 29.2 percent ahead of last year.
Scheduled Showings
The number of appointments for property showings slowed during the week ending October 26. That is a year-over-year decline of 6.0%.
If you are looking at listing on HAR, make sure to check out our client search portal to get assess to local information not available on other website.
Listing Views on HAR
Overview
As you can see, things are starting to normalize after the start of the pandemic but we are still in a strong sellers market. This is due to the large amount of buyers on the market competing for a lower number of houses.
So if you are looking to buy a new house (or maybe your first house), call or text us so we can create a plan to get you the home you are dreaming about. (832) 447 – 1231
And make sure you check out our ZeroPlus program to save money in lending fees and lock in the best rate on your next mortgage.