HAR reports a record number of Houston rental homes leased in March

According to the April 15 Houston Association of Realtors’ March Rental Market Update, Houston's rental market has seen an increase in leased listings.

The projections

For March, HAR reports there were 4,718 leased listings for single-family rentals on the market, a 15.8% increase compared to last March. The current listings for March set the record for the highest number of recorded homes leased in a single month ever recorded by HAR. For pending listings, there was an increase of 7.8% compared to last year, totaling 6,172 homes on the market.

Lease prices in comparison to last March dipped by 2.1% to $2,242 from $2,290. Homes have also spent slightly longer in the market, from 43 to 47 days.

According to HAR, the townhome and condominium market has also seen changes in March; 673 properties were leased this March, leading to a 12.4% increase compared to the 599 properties last March.