Featuring the perspective of local construction executive:

Joe Mandola
Division President, Tri Pointe Homes Houston

Will you add inventory in 2024? Can you tell us about your plans?

Joe Mandola: Tri Pointe Homes opened several new communities throughout Greater Houston in 2023 that were all very well received. Heading into 2024, we plan to open more new communities while continuing to add new homesites within our existing communities.

We are excited about our current land position and are currently starting homes every week that we anticipate will be ready for delivery in the first and second quarter of 2024, providing new purchase opportunities for buyers. In the new year, we will continue to focus on growth with the goal of becoming a top 10 builder in our market as measured by annual delivery volume.

Will agents be more important to your plans in 2024? If so, how?

Mandola: Tri Pointe Homes Houston currently has an 89% broker co-op rate, and we expect that to continue in 2024. We have not lost sight of the importance of offering an inspiring, premium product that is differentiated from the competition and agents in the area do an excellent job of educating their clients about Tri Pointe Homes’ communities, product offerings and our premium lifestyle brand.

Tri Pointe Homes grew from a family of trusted regional homebuilding brands, including Trendmaker® Homes, which was established nearly 50 years ago to serve the Houston market. Building upon that legacy, we maintain the regional insights, long-standing community ties and agility of an empowered local team while being supported by the financial resources, technology platforms and proven leadership of a national organization. Having built an excellent reputation after more than five decades in the Houston market has helped us form and maintain strong relationships with local brokers, who help inform their clients about our award-winning premium lifestyle homes and the outstanding customer service we offer as a leader in the Houston real estate sector.

Which type of new construction housing (condo, townhome, single family) do you expect to be in most demand in 2024?

Mandola: As we strive to meet the pricing and affordability challenges of today’s market, I believe we may see growth in townhomes and condos inside the loop or inside the beltway in 2024. Overall, I believe single-family homes will still continue to drive the Houston market in the new year, especially in the suburbs, where Tri Pointe Homes primarily builds.

Will the housing inventory shortage drive more development in 2024 and beyond?

Mandola: Tri Pointe Homes remains extremely positive on the outlook for housing due to the lack of supply and favorable buyer demographics, and we believe the Greater Houston area will continue to see development growth in 2024 and beyond. Greater Houston has a number of incredible planned communities that allow homebuyers access to top area schools and provide a quality environment in which to live, work and play — the kinds of locations and amenities that Tri Pointe Homes prioritizes when building homes for households at all price points and life stages.