According to sources, the 37-year-old is eager to have a relationship with someone "loyal" and thinks that Houghton could be that woman.
A friend of Andre told Now: "He's so ready to fall in love. He says Chantelle's the kind of girl any man should be happy to be with.
"He can really relate to her pain over Preston and his heart is going out to her. He hadn't seen that raw, emotional side to her before."
Houghton has previously admitted that she would "marry" the singer.
She said: "I once said I'd choose Peter Andre to sleep with in a game of 'Sleep with, marry or throw off a cliff'. Now that he's back on the market, I'd marry him."
