A national headline says the market is hot, or cold, or crashing, or back. Your house does not live in a national headline. It lives on a street, in a school district, at a price point, in a season. Reading the market means reading four numbers for that slice, and ignoring almost everything else.
Months of inventory: the balance number
How long the current supply of homes would take to sell at the current pace. Around four to six months has historically meant balance, lower favors sellers, higher favors buyers. The number that matters is not the county's but your segment's, because new construction along I-45 and established Woodlands resale can sit at very different levels in the same month.
Days on market: the honesty number
How long homes actually take to go under contract in your area and price band. Rising days on market means buyers are hesitating, and it shows up in a neighborhood before it shows up in prices. When I set a pricing strategy, this number and its direction over the last quarter weigh more than any headline.
List to sale ratio: the negotiation number
What homes actually sell for as a percentage of asking. At a hundred percent, sellers hold the line. Meaningfully below, negotiation is open, and your offer strategy should know it. Above a hundred, you are writing offers in competition and should read the option period piece before you do.
Price reductions: the early warning
The share of active listings that have taken a cut. It rises before the other numbers move, which makes it the closest thing the market has to a weather forecast. A neighborhood where a third of listings just reduced is telling sellers something the last closed sale has not admitted yet.
Where do I get these numbers for my street?
From someone with MLS access who works your specific area, read quarterly rather than daily. I prepare this exact four number picture, scoped to the neighborhood and price band in question, for every seller consultation and serious buyer I work with. The market is not a mood. It is four numbers and their direction, and they are knowable.