Activity in Houston’s single-family rental (SFR) market increased in October, according to a report from the Houston Association of REALTORS® (HAR).

Leases of SFRs rose 4.9% year over year last month, with 3,413 signed, compared to 3,254 in October 2023. New listings of SFRs also rose, with 5,917 properties added to the market, an 11.6% increase year over year.

“October marked another strong month for Houston’s housing market, with both resale and rental sectors experiencing significant growth,” HAR Chair Thomas Mouton said in the report. “With mortgage rates remaining volatile, I believe more potential homebuyers will take a wait-and-see approach, further fueling the rental market in the coming months.”

Leases of for-rent townhomes and condominiums increased as well, with 557 leases signed compared to 523 in October 2023. That’s a 6.5% increase year over year. Meanwhile, new townhome and condo listings rose 10.6%.

The increase of new SFR and townhome and condo listings meant that despite heightened leasing activity, the typical rental spent more days on the market: SFRs spent 36 days on the market, up four days year over year, while condos and townhomes spent 43 days on the market, up six days year over year.