Welcome to our daily roundup of the latest developments in the real estate market. Today, we explore diverse trends and significant movements shaping the housing landscape. From the rise of build-to-rent communities across the U.S. as a response to high home prices, to exciting new residential projects like Toll Brothers’ Riano Ridge in Colorado and Landsea Homes’ Mason in Anaheim, our coverage spans key updates that potential homebuyers and industry watchers need to know. Additionally, we delve into the financial performance of major homebuilders, highlighting Lennar Corp. and D.R. Horton’s top revenues in 2023. Stay tuned as we break down these complex market dynamics and offer insights into what they mean for you.
Build-to-rent communities growing across US as home prices remain high
A growing number of Americans are opting to live in build-to-rent communities, designed for renters who cannot afford to own a home yet but want an upgrade from apartments. These communities offer upgraded appliances, community events, and amenities like dog parks and walking trails. With renting becoming more affordable than owning a home in nearly 90% of U.S. counties, build-to-rent communities provide more living options for those struggling to find affordable housing. While some target middle-class renters, others cater to high-income households looking for a low-maintenance lifestyle. Critics worry about the replacement of entry-level homes with rentals, but experts argue that any addition to the housing supply is positive. As the U.S. faces a shortage of single-family homes, the build-to-rent trend contributes additional supply and helps moderate home prices. Although new builds may slow down due to higher interest rates, the demand for build-to-rent communities remains strong.
New Toll Brothers Luxury Home Community, Riano Ridge
Toll Brothers, Inc., the nation’s leading builder of luxury homes, announced its newest master-planned community, Riano Ridge, coming soon to Loveland, Colorado. The community will feature modern townhome and single-family home designs with private amenities. Home buyers can choose from four collections of stylish two-story home designs ranging from 1,673 to 4,814+ square feet, built with Toll Brothers’ outstanding quality and craftsmanship. Prices start from the $500,000s. The Toll Brothers Design Studio offers one-stop shopping for personalized selections with the help of professional Design Consultants. Riano Ridge is ideally located near Mehaffey Park and within proximity to shopping, dining, entertainment, and recreational destinations. Major highways provide convenient access to Denver, Fort Collins, Estes Park, and Colorado Springs. For more information on Riano Ridge and other Toll Brothers communities in Colorado, visit TollBrothers.com/Colorado.
LANDSEA HOMES CLOSES ON 44 HOMESITES FOR A NEW COMMUNITY IN ANAHEIM, CA
Landsea Homes Corporation has closed on 44 homesites for a new community called Mason in Anaheim, California. The community will feature three-story townhomes with four different floorplans ranging from 772 to 2,007 square feet. Residents will enjoy common area amenities, smart home automation features, and REME HALO® air purifiers. Landsea Homes’ LiveFlex™ program offers the opportunity to customize spaces according to individual needs. Located in Orange County, Anaheim is known for its attractions, shopping, dining, and industrial district. Mason aims to provide high-quality, modern living at an attainable price point. For more information on Landsea Homes and the Mason community, visit their website.
Largest U.S. home builders 2023, by revenue | Statista
Lennar Corp. emerged as the top homebuilder in the United States in 2023, generating a homebuilding revenue of $32.5 billion. D.R. Horton closely followed with a revenue of over $32 billion. The residential construction market faced challenges during the global financial crisis, but it has since recovered. However, the trend is expected to change in 2023, with a projected decrease in housing put in place, which may impact the revenues of home construction companies. The number of new houses sold also reflects this pattern, with a slowdown in growth after the property crash of 2008. For more information and detailed statistics, visit the Statista website.