The sellers are the DeMontrond family of DeMontrond Auto Group, which was first established in Houston in 1953.

The move comes despite a slowdown in the single-family rental market. 

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.

Local home builder to break ground on Memorial Green project.

Italian furnishings brand Giorgetti opens their first completely branded residential condominium project in the world, Giorgetti Houston.

Two Sugar Land developments invite visitors to tour model homes.

Houston builder Coventry Homes will introduce new home designs priced from the mid-$200,000s in Sienna, a 10,800-acre community located in Missouri City.