CT Member Kacy here with a post about text wrapping around shapes in Photoshop, without using the tab key.  

I’d like to add text to this layout that wraps around the right side of the house.

To accomplish this, we will use the shape tool and the text tool.  First, right-click on the Shape tool, and select the rectangle.

In the Shape toolbar at the top, change both the fill and the stroke to blank (this appears as a white box with a red diagonal line through it.

Using the Shape tool, draw a rectangle around the outermost edges of where you want to place your text.  The shape rectangle will overlap the item you are wrapping the text around.  You will now see a thin grey rectangle on your layout, similar to this:

Photoshop has automatically created a new layer for this rectangle in the Layers Palette.

With the shape tool still selected, we are going to use more shapes to “cut out” the parts of the rectangle that overlap the item we want to wrap text around.  On the Shape toolbar, click the Path Operations button.

Select Subtract Front Shape.  

This setting allows you to “subtract” parts of the rectangle shape where you want your text to go.  In this case, I want to subtract the right half of the roof and the right wall under the house element on my layout.  I can use the rectangle tool to subtract the wall:

The roof is a little trickier, but Photoshop has a lot of shapes to choose from.  Go back to the Shape tool, on the left toolbar, right-click on the Shape tool button, and select Custom Shape Tool.  

In the toolbar at the top, reset the Path Operations button to Subtract Front Shape, just as we did earlier.  Then, use the shape selector drop down box to find the right shape.  I’m going to use the diamond.

This will take a little trial and error to get the shape placed correctly.  If you don’t like where it ended up, use Edit, Undo Custom Shape Tool from the top toolbar (or Ctrl-Z).  After a few tries, this is what I ended up with:

If you want, you can go back with the Shape Tool (using the Path Operations button again) and subtract or add (using Combine Shapes) some of the cutouts or little corners.  I subtracted the little leftover triangle at the top of the house, and added back in the area under the roof.  You should see something similar to this: 

With the Rectangle 1 layer selected in the Layers Palette, choose the Text tool from the left-side toolbar.  Move the cursor inside the area where you want your text to go – the cursor will look something like this:    with a small dotted circle outline around the cursor.

Click inside the area, add your text, and click the check mark in the top text-box toolbar to complete your text edits.  After typing my text, I moved the text layer over and down just a bit (it was a little too close to the house element).  My final layout looks like this:

These are the products I used