Single-family residential rentals properties throughout the Houston metro did well in February 2019. According to the Houston Association of Realtors (HAR), rental activity increased 26.5% year over year, with the average rent ticking up 0.8% to $1,733 per month. Townhome and condominium activity increased 27.1% from the year before. The average rate for townhome and condo rentals was $1,548, a 1.9% increase from February 2018.

On the sales side, February proved to be more active than January, which experienced declining sales across all pricing segments. HAR analysis noted that 5,280 homes were sold in February 2019 versus the 5,265 reported a year earlier. Single-family home prices hit record highs, with the median price increasing 2.9% to $232.900, and the average price clocking in at $286,156, a 1.9% increase.

Housing inventory was 3.7 months, up from 3.1 months a year earlier, and slightly below the current national inventory level of 3.9 months.

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