Week 46 Update: Real Estate continues to slow but prices remain stable...

NEW LISTINGS continued to run ahead of 2022 levels during Week 46. REALTORS® entered 2,580 properties into the Multiple Listing Service (MLS) compared to 2,414 last year at this time. That is up 6.9 percent.

Pre-Pandemic: New listings were up 5.7 percent versus Week 46 of 2019 when REALTORS® entered 2,441 properties into the MLS.

PENDING LISTINGS have slipped slightly behind 2022 levels. A total of 1,723 property listings went under contract during Week 46. That is down 3.0 percent from the 2022 total of 1,777.

Pre-Pandemic: Pending listings were down 16.2 percent compared to 2019 when 2,056 property listings went under contract.

CLOSINGS have fallen behind 2022 levels after leading for two weeks. During Week 46, a total of 1,578 units were sold compared to 1,667 in 2022. That is down 5.3 percent.

Pre-Pandemic: Closings were down 3.0 percent from 2019 when a total of 1,626 units sold.

IN-PERSON SHOWINGS remain ahead of 2022 levels. During Week 46, there were 28,656 showings compared to 27,559 the same week last year. That is a 4.0 percent increase.

Pre-Pandemic: Property showings were 19.2 percent below where they were in Week 46 of 2019 when consumer traffic totaled 35,480.

SELLERS WITHDREW a few more property listings from the MLS during the week ending November 20 than that same week in 2022. Off-market listings rose 1.1 percent with a total of 1,325 homes going from active to off-market compared to 1,311 last year.

Pre-Pandemic: Sellers withdrew fewer property listings versus Week 46 of 2019 when off-market listings totaled 1,454. That is a drop of 8.9 percent.