Taylor Morrison and Tri Pointe Homes launched a community in Cypress, while KB Home is building in Humble. Prices start in the upper and mid-$200,000s.
KB Home, Commercial Image PhotographyBuilders separately launched two single-family residential communities in the greater Houston area with homes starting under $300,000 as rising mortgage rates cut into buying power.
"Mason Woods offers an attainable price point, which is fairly hard to come by in the Houston area currently," said Todd Rasmussen, president of Taylor Morrison’s Houston Division. “The Mason Woods community will offer a premium lifestyle for homebuyers due to its quick and easy access to employment centers, schools and shopping,” said Tri Pointe Homes Houston division president Joe Mandola.
New home prices, meanwhile, are still hitting record levels even as sales have slowed and more homes hit the market, according to HomesUSA.com, a North Texas-based brokerage that tracks new home sales handled through the local Multiple Listing Services in Texas. "A portion of buyers are now considering more affordably priced sub-$300,000 homes that might not have considered these homes when interest rates were much lower," Dean said in an email."As their buying power erodes due to higher interest rates, they are forced to or choose to look at more affordably priced homes therefore driving demand in this slice of the market."
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