Tri Pointe Homes will serve as the lead developer for Evergrove, a new master-planned community in Richmond featuring 45- to 80-foot homesites.

Shea Homes will build on all lot sizes, with 39 floor plans to choose from. Prices range from $320,000 to $590,000.

Affordability challenges continue to bedevil homebuyers, despite mortgage rates falling to a three-year low, the National Association of Home Builders reported. 

Houston was the fastest-selling of the major Texas markets in September, with homes spending an average of 88.65 days on market, down from 89 days a month prior.

The new model home park features designs from Perry Homes, Westin Homes, Newmark Homes and Highland Homes.

The purchase was made through a $1.7 billion bond approved in November 2022.

Chesmar Homes, David Weekley Homes, Highland Homes, J. Patrick Homes and Perry Homes unveiled models to prospective buyers at the event.

The pace of new-home sales hit an annual rate of 800,000, its highest level since January 2022. 

The average new-home price decreased just slightly to $402,285, down from $402,741 a year prior.

At the same time, completions of new single-family homes were on the rise last month, according to federal statistics. 

Designed by KGA Deforest and Project Luong, plans include a pool, event lawn, splash pad, playground, pavilion and lakes.

Plans include a central gathering place for concerts, farmers markets, seasonal events and more, plus a clubhouse, playground, fitness center, coworking area, conference room, two pools and six pickleball courts.

The community will include 10 homes ranging from 1,862 to 2,905 square feet with three to four bedrooms, up to three bathrooms and 2.5-car garages.

Most of the Bayou City’s new apartments — over 7,700 — are located in Houston proper, followed by Cypress at 1,343 units and Spring at 1,109.

The upside surprise came despite monthly and yearly declines in the pace of sales. 

The single-family sector managed to eke out a slight monthly gain, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.