“There simply aren’t enough homes for sale relative to the demand fueled by millennials armed with low mortgage rate-driven house-buying power.” — First American Deputy Chief Economist Odeta Kushi

The decrease was driven by a 5.1% month-over-month slide in the rate of multifamily starts, while single-family construction was flat.

The seasonally adjusted estimate of new houses for sale at the end of July was 378,000, representing a supply of 6.1 months at the current sales rate.

With plans to begin sales in six new communities, M/I Homes is set to double its current footprint in the greater Houston area over the next 18 months.

“The bright spot in an otherwise underwhelming report comes from the increase in the overall number of permits issued, which can signal how much home construction is in the pipeline.” — First American deputy chief economist Odeta Kushi

The Highlands is Caldwell Home’s newest master-planned community coming soon to Montgomery County, will feature 4,000 homes from award-winning builders and with amenities for a highly active lifestyle.

The new community, deemed Evergreen, will span 740 acres and eventually accommodate 2,000 homes. The builder has dedicated 100 acres of the community to natural areas and green spaces, including an amenitized creek. 

There’s a new boutique master-planned community coming to town! Potential buyers can join a waitlist to secure first dibs on a new home, priced from the low $300,000s. 

The real estate investment and land asset-management company has identified 17 near-term development opportunities and is in advanced negotiations to develop build-to-rent communities with about 2,500 units across the country.

The seasonally adjusted estimate of new houses for sale at the end of May was 330,000, representing a supply of 5.1 months at the current sales rate, the U.S. Census Bureau and the Department of Housing and Urban Development reported.

Single-family housing starts were up 4.2% from April and 49.8% from May 2020, at 1,098,000, according to the U.S. Census Bureau and Department of Housing and Urban Development.

The developer plans to turn the land into an agrarian-inspired residential community and approximately 1,200 homes are expected.

The NAHB attributed the monthly increase in its construction spending index to single-family construction and single-family improvements, both of which rose by 2% on a monthly basis. Multifamily construction, meanwhile, declined 0.3% after falling 0.9% in February.

The builder has started home sales in Mandola Farms in the Richmond area and is set to begin building The Highlands, a new master-planned community in Porter.

Newmark Homes and Tri Pointe Homes, two of the nine builders at Cross Creek Ranch, will be offering homes designed for 45-foot homesites, ranging from the $320,000s to $340,000s.

Led by builders Devon Street Homes and Colina Homes, Rosehill Meadows will span 51 acres and include approximately 250 homesites, ranging from $220,000s to $300,000s.