Unfazed by Houston's sluggish housing market, one of the nation's largest homebuilders has acquired nearly 200 acres for another regional development.
M/I Homes plans to develop Berryknoll along FM 2854 in Montgomery County. The 250 homes it plans to build there will range from 70 feet wide to an acre, with sales expected to begin in spring 2026, the company said.
Prices are set to start in the $400,000s. The homes will have three to six bedrooms and optional three-car garages, according to the builder. On the larger lots, buyers have the option for the garages to face the side of the home rather than the front.
The Houston region's year-over-year median sale price for all property types rose 0.4% in August from a year ago, according to Homes.com. The August showing was an improvement from the 2.9% annual decline in July, the third-largest fall among the 40 largest U.S. housing markets, the data shows.
Prices are leveling out as more owners list homes, townhouses and condos for sale. Houston-area listings have hit records in recent months.
While buyers are gaining an advantage over sellers now, the timing of Berryknoll's sales launch could benefit the builder, said Itziar Aguirre, senior director of market analytics for Homes.com.
"I think next year will be a more balanced market," she said. "We will likely see mortgage rates continue to gradually decline, which will bring in more buyers from the sidelines. Even a small decrease in rates can have a pretty big impact on your monthly payment."
M/I, based in Columbus, Ohio, sold 9,055 homes last year, ranking as the 13th-largest U.S. homebuilder, according to Builder Magazine.
Berryknoll amenities will include ponds, trails, a covered pavilion, a playground and pickleball courts, the company said.
“The opportunity for a new home on a large, even acreage homesite in a planned community is rare in this area,” said Jay McManus, Houston division president for M/I Homes, in a statement.
M/I is the developer and exclusive builder at Berryknoll. The company is selling in 11 other Houston-area communities, with prices starting in the $190,000s.
It's also developing Summerview in Fulshear, Texas, and Moran Ranch in Willis in Montgomery County. M/I is also jointly developing Sorella in Tomball with Johnson Land Ventures.