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

Shea Homes, Perry Homes and Toll Brothers kicked off construction on Dec. 5.

Homes will be built by HistoryMaker Homes, Ashton Woods and Brightland Homes, with pricing starting in the $300,000s.

Chesmar Homes, HistoryMaker Homes and Empire Communities will offer approximately 1,200 homes priced from the low $300,000s.

Multifamily construction, meanwhile, rose on a monthly basis. 

Lennar has begun construction in The Highlands, a neighborhood in The Grand Prairie master-planned community in Hockley.

“This is a momentous occasion and one that we’ve been eagerly anticipating,” said Stephen Varrera, vice president and general manager of Kresston.

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.