Houston’s real estate market is moving — just not in the way most people expect. According to the latest HAR Weekly Activity Snapshot (Week 46, 2025), the market is showing a unique blend of cooling activity and long-term strength. Even with a slight dip in prices, most Houston homeowners remain in a solid equity position.

Let’s break down what’s really happening.

🔹 New Listings Are Up — Inventory Is Slowly Growing

Houston saw 3,209 new listings, a 1.1% increase year-over-year.
This means more homeowners are stepping into the market, giving buyers slightly more breathing room compared to the ultra-competitive years of 2021–2023.

More listings = more options.
But more options also create more competition for sellers.

🔹 Pending Sales Are Down 9% — Buyers Are Taking Their Time

Pending listings dropped to 1,830, a significant 9% decrease.
This slowdown reflects:

• Higher interest rates

• Buyers being more selective

• A shift from “panic buying” to “smart shopping”

Buyers aren’t moving as quickly — and that gives them more negotiation power.

🔹 Off-Market Listings Jump 12.8% — Some Sellers Are Stepping Back

A sharp rise to 2,089 off-market listings (+12.8%) shows many sellers are pulling homes off the MLS.
Why?

• They didn’t get the offers they wanted

• They’re waiting for rates to improve

• They realized renting may be more profitable short-term

For investors, this is a signal:
landlords are holding onto properties because rents remain strong.

🔹 Closings Are Down 9.7% — Fewer Deals Are Reaching the Finish Line

Only 1,383 closings were recorded — nearly 10% fewer than last year.

When pending sales drop, closings follow.

This slowdown reflects a market in transition rather than decline.

🔹 Showings Are WAY Up — Demand Is Still Very Much Alive

Here’s the plot twist:
Showings surged to 33,227, a massive 72% increase.

This tells us something important:

👉 Buyers haven’t disappeared — they’re just being more selective and waiting for the right home at the right price.

Activity is high. Decisions are slow.

🔹 9,948 Open Houses Held — Sellers Are Fighting for Visibility

With inventory growing and buyers moving cautiously, sellers and agents are doubling down on exposure.

This is why open-house traffic is spiking.

⭐ So Why Are Houston Home Prices Dipping?

Local headlines point out that prices have dipped slightly — but it's not the doom-and-gloom story some people expect.

Here's the truth:

• Most Houston homeowners bought before the major appreciation wave

• Values are still far higher than pre-pandemic levels

• Equity remains strong across nearly all sub-markets

• Houston avoided the drastic overpricing seen in coastal markets

• A “dip” is more of a market correction than a market crash

In other words:
Sellers aren’t losing money — they’re just no longer gaining it at 2022 speeds.

⭐ What This Means for Buyers

✔️ More choices
✔️ More negotiation power
✔️ Less bidding-war chaos
✔️ A chance to buy before rates eventually drop (and competition explodes)

This is the market smart buyers wait for.

⭐ What This Means for Sellers

✔️ Homes still sell
✔️ Equity remains strong
✔️ But pricing strategy matters
✔️ Presentation matters
✔️ Patience matters

This is not a “list high and hope” market anymore.
It's a “list smart and win” market.

⭐ What This Means for Landlords & Investors

This is where things get interesting:

• Inventory is rising

• Many sellers are turning into landlords

• Rental demand in Houston remains extremely strong

• Investors can negotiate better deals

• Cash flow opportunities are improving

And with buyers being cautious, renters are staying put longer, which boosts returns.

⭐ Final Takeaway

Houston’s market isn’t crashing — it’s normalizing.
Prices dipped modestly, but homeowners remain in strong equity positions.
Activity is shifting, not disappearing.
Buyers are active, but thoughtful.
Sellers can still win — but need a smart strategy.
Investors are quietly taking advantage of the slowdown.

In short:
Houston is returning to a healthy, balanced (and opportunity-filled) market.