A closer look
According to the release, there was a 3.1% increase in the number of single-family homes leased this August compared to the same time last year. At the same time, active listings surpassed 10,000 units in August.
Rental properties are taking a little longer to lease, however, with an average of 35 days on the market compared to 32 days a year ago.
The release also added that the average rent stayed flat at $2,412 for the second month in a row in August.
What they’re saying
“Houston renters are in a strong position right now with more choices and stable lease prices,” HAR Chair Shae Cottar said. “As mortgage rates continue to ease, we expect to see more renters exploring their dream of homeownership in the coming months.”
