Frustration abounds in the Houston area. Buyers are weary of multiple offer situations, escalating sales prices and mortgage rates. Housing inventory in the area is at 1.4 months. There is a 2.0-months supply nationwide.
Homes priced according to location and condition, are usually only on the market a short time. Currently, the Houston area homes average 33 days on the market.
Homebuyers who have opted to rent drove single-family home leases up 17.2 percent. Townhome and condominium leases fell 3 percent.
