At the same time, builder sales expectations for the next six months posted their second-largest drop since the sentiment index started in 1985. 

What exactly goes into homebuilding costs, and how do those costs translate to profits for builders — and home prices for buyers?

The median-sales price slid from $425,600 in October to $402,600 last month. 

Multifamily construction, meanwhile, rose on a monthly basis. 

Highland is the first of seven builders to begin selling at the 2,400-home, master-planned community, Grange.

New-home prices, meanwhile, were mixed among the state’s largest cities, according to the latest report from HomesUSA. 

The median price of a new home sold during the month was also up, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

The development is the first stand-alone Ritz-Carlton condominium community in Texas. 

Multifamily starts, meanwhile, declined, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.    

The wellness-focused community’s second phase comprises almost 300 lots. 

The 716,000 per-year rate of new-home sales topped the consensus estimate of 700,000. 

The 67-single-family-home community is located on 10 acres in Montgomery. 

The second phase of the 1,500-acre community in Mont Belvieu will add 311 homes to the Houston exurb.

The charity home in the Elyson by Newland community was developed by Chesmar Homes and Brookfield Properties. 

July’s seasonally adjusted annual rate of 739,000 represented a 10.6% jump from June’s upwardly revised rate of 668,000. 

To commemorate the opening, a ribbon-cutting ceremony was held with Housing Authority President and CEO David Northern Sr. and other elected officials.