Leases down rates up!

The number of leases declined in April by 9%. Pending leases were off by 3%. The average rental rate increased by 14% while the median rate rose 11%. The number of new listings declined 18% and the active listings dropped 52%.

Leases: 3,189

Average Rental Rate: $2,054

Median Rental Rate: 1,880

Pending Leases: 2,026

New Listings: 3,317

Active Listings: 2,275

Information provided by the The Texas Real Estate Center

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