Houston real estate market experiences typical vacation lull
The holiday season is in full swing, leading to a slowdown in activity in the Houston real estate market, according to the Houston Association of REALTORSÂ® weekly activity snapshot.
Realtors listed 1,010 properties in the Multiple Listing Service (MLS) in week 51, down 14.8% from a year ago during the same period. This is the seventh consecutive weekly decline in new listings in Houston.
Pending listings fell 10% from the same week in 2020. A total of 1,258 real estate listings were under contract compared to 1,397 last year. This is only the second weekly drop in pending registrations since early October.
Fewer registrations (2.2%) were withdrawn from MLS in the week ending December 27 compared to the same week last year. A total of 657 housing units have moved from active to off-market status, compared to 672 in 2020.
After two consecutive weeks of decline, sold listings increased to a total of 1,651 compared to 1,626 last year, an increase of 1.5%. Since the start of the year, local home sales are 12% above 2020 levels.
The number of real estate visits is down as families take the holidays. Year-over-year attendance fell 12.5% ââto a total of 17,552 screenings, down from 20,067 for the same week a year ago, the report notes.