The brand will specialize in cottage-style homes with private backyards.
Most of the single-family homes are in Texas, Georgia, Alabama and Oklahoma.
The properties are part of a 42-community portfolio belonging to Philadelphia-based landlord Resource REIT Inc.
The first phase of the deal comprises 1,424 new single-family homes and townhouses in Tampa, Fla.; Atlanta and Athens, Ga.; and Pinehurst, N.C.
The increase was driven by a 21.6% month-over-month spike in the rate of new multifamily construction. Single-family housing starts, meanwhile, slid 2.8%.
Month over month, home sales were down 3.5%, and the median sale price declined 1.2% to $335,000.
Builders Coventry Homes, Perry Homes and Westin Homes have received a total of 96 40-, 50- and 60-foot homesites in the first phase of MPC Candela.
M/I Homes develops new properties and reaches further into the Houston community
Areas hit hard by the pandemic could see a wave of zombie properties once the federal ban on foreclosures expires.
The third phase of Sheldon Lake will include development of a new park for residential use.