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Houston buyers absorb fewer new listings as inventory grows

In St. Louis and nationally, active inventory rose even as new pendings lagged new listings, while mortgage rates above 6.64% have weighed on buyer demand.

Reported · Written up by our desk · Residential

HousingWire used local and national housing data to show how inventory can rise even when some “demand” indicators look relatively strong, highlighting cases where signals diverge by market.

For the week ending Sept. 4, national active inventory increased to 883,673 from 879,764 the prior week, while new listings totaled 68,142 and new pending sales were 64,447, or about 95 new pendings for every 100 new listings. The price cut share reached 42.14%, essentially matching last year’s level for the first time this year.

In St. Louis, the latest snapshot showed 896 new pending sales versus 659 new listings, roughly 136 homes going under contract for every 100 newly listed. Yet active inventory still rose from 4,855 to 5,549, an increase of 14.4%, underscoring that buyers may be moving on new supply without necessarily drawing down the broader stock of existing homes.

Houston illustrated a clearer mismatch between listings and contract activity, with new pendings below new listings for all 11 weeks. This week, Houston recorded 1,693 new pendings against 2,011 new listings, about 84 homes under contract per 100 new listings, while active inventory rose 4.5% from 35,151 to 36,718 and the share of listings with a price cut increased from 37.4% to 40.3%. HousingWire lead analyst Logan Mohtashami also pointed to mortgage rates remaining above his 6.64% demand threshold, which has shifted pending sales from year over year growth to flat to slightly negative.

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