New Construction News
Beazer Homes has launched pre-sales for its new Duets series of homes in Sienna’s Forest Landing neighborhood.
Four builders have opened model homes priced above or near $1 million in Sienna, comprising the Missouri City community’s new Luxury Collection.
November’s reading of 83 was up three points from October, driven by low existing inventories and strong buyer demand, the National Association of Home Builders reported, citing the latest NAHB/Wells Fargo Housing Market Index.
Housing observers noted that demand for housing remains robust despite the lack of new supply.
The Howard Hughes Corp. will break ground this month on a new park and amenity space in its master-planned community, Bridgeland. The 4.5-acre Longwing Landing park will be located adjacent to a 40-acre lake poised to become the centerpiece
“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