New HAR report shows slight increase in Greater Houston area leased rentals in May

Meanwhile, the number of days on the market also slightly increased from 39 to 42 days.

Townhomes and condos saw an increase of 8.2% in the number of leased listings and an increase of 0.5% in price.

The number of leased listings was 749—up from last year’s 692—at an average of $2,007, per the report. Condos and townhomes also spend a week longer at 53 days on the market compared to last May's 46 days.

What they’re saying

“In today's economy, many consumers are taking a more measured approach to major financial decisions, and renting remains an attractive option for some households,” said HAR Chair Theresa Hill. “For those choosing to rent, a growing supply of available homes is providing more choices and helping keep rental prices relatively stable.”