A major U.S. homebuilder is targeting first-time buyers in a development due to bring more than 1,000 single-family homes to the burgeoning Houston suburbs.
Century Communities said the 318-acre Mirabella in Brookshire, Texas, will contain one- and two-story homes with prices starting under $300,000. Brookshire is about 20 miles west of Houston's Energy Corridor.
Companies such as Amazon, Ross, Goya, Rooms To Go, PepsiCo and Tesla have expanded their industrial footprints and employment bases along the Interstate 10 West corridor in Brookshire in recent years, according to Itziar Aguirre, senior director of market analytics for Homes.com.
Convenient freeway access along the Grand Parkway and I-10 is ideal for longer commuters, she noted.
"A big part of these suburbs' appeal is more affordable housing than inside Houston's 610 Loop, as well as the excellent public schools," she said.
New homes traditionally have been too expensive for first-time buyers. But builder price cuts and incentives, such as mortgage-rate buy-downs, have made new construction more attainable for young professionals and families, analysts say.
Builders respond to demand
The Houston metropolitan area added more than 198,000 residents between 2023 and 2024, making it the nation's second-fastest-growing region behind New York-Newark-Jersey City, according to the U.S. Census.
To capitalize on demand, homebuilders are scouring for land, with an array of new Houston-area developments announced in recent months.
While home prices are leveling out as more owners list properties for sale, Aguirre and other analysts are bullish on the region's long-term appeal from a housing standpoint.
The largest homes in Mirabella will have five bedrooms and 3,000 square feet, according to Century. Amenities include lakes, trails, a pool, sports courts, dog parks and fishing areas.
"With a wide range of floor plans at affordable prices, incredible community amenities, and a desirable location that mixes country charm with city access, there's really going to be something for every buyer at Mirabella," said Tanya Rizzo, Century's Houston division president, in a statement.
The company, based in Greenwood Village, Colorado, sold 11,007 homes last year, ranking ninth among U.S. builders, according to Builder Magazine.