Yes, but it is restricted to a limited area. There may be another land rush sometime this month... this will open up placement in the currently restricted areas.
There is plenty of room open for additional housing. On the next (and final) release of the land-rush, we will be opening the entire land-mass for house placement, and there will no longer be any restrictions on the areas in which players may place housing. Alternatively, you can use our online map utility to scout for open house plots, or to just check out the current layout. http://www.uorenaissance.com/map/index.php
