Lubbock inventory climbs to 8.1 months, marking Texas’s deepest buyer market

The Lubbock metro housing market has emerged as Texas’s deepest buyer’s market, with inventory levels reaching 8.1 months of supply as of Nov. 22, 2025. This marks a stark departure from the state’s overall 3.6 months of inventory, positioning the West Texas metro as an outlier in an otherwise balanced Texas housing landscape.

Active listings in the Lubbock area climbed to 1,964 homes, representing a 32.8% increase from 1,479 properties a year ago. The surge in available homes coincided with a dramatic pullback in buyer activity, as weekly absorption plummeted 65.6% year-over-year from 192 to just 66 homes.

Inventory accumulation outpaces demand

New listings continue entering the market at a steady clip, with 99 homes added during the week ending Nov. 22. However, with only 66 properties absorbed weekly, the imbalance has pushed supply levels to nearly triple the national average of 2.7 months.

Properties now spend a median of 84 days on market, up from 77 days last year. The extended marketing time reflects buyer leverage in negotiations, as 36.9% of active listings have undergone price reductions while only 5.0% have increased asking prices.

Price adjustments fail to spark activity

Despite median list prices dropping to $245,975 from $255,000 a year ago, buyer demand remains subdued. At $141.5 per square foot, Lubbock homes are priced 21.7% below the Texas average of $180.8 per square foot and 32.8% under the national figure of $210.6.

The relisting rate has climbed to 15.7%, indicating sellers are pulling properties off the market and trying again with adjusted strategies. This cycle of listings, withdrawals, and relistings contributes to the overall inventory buildup.

Regional divergence widens

While Lubbock grapples with oversupply, the broader Texas market maintains relative balance. The state’s median days on market stands at 91 days with homes priced at $369,900, compared to Lubbock’s $245,975. Nationally, homes sell after a median 77 days at $427,900.

Track the 8.1-month supply level as a barometer for market recovery. Monitor whether weekly absorption can rise above the current 66-unit pace. Use the 36.9% price reduction rate to gauge seller urgency. Leverage the $141.5 per-square-foot pricing data when advising clients on value opportunities in this buyer-favorable environment.

HousingWire used HW Data to source this story. To see what’s happening in your own local market, generate housing market reports. For enterprise clients looking to license the same market data at a larger scale, visit HW Data.