The first phase of the deal comprises 1,424 new single-family homes and townhouses in Tampa, Fla.; Atlanta and Athens, Ga.; and Pinehurst, N.C.

Sales launched this week at The Crosby Miami Worldcenter, a planned 33-story tower with 450 residences in downtown Miami, a news release said.

The median sales price of new homes hit a new high of $416,900.

A new residential real estate development will add 354 luxury condo units across twin towers in Miami’s Brickell Financial District. Miami-based Integra Investments and condominium developer Related Group announced plans for The St. Regis Residences, Miami, this week.

“November’s housing starts report signals strength for the housing market.”  — First American deputy chief economist Odeta Kushi

“While 2021 single-family starts are expected to end the year 24% higher than the pre-Covid 2019 level, we expect higher interest rates in 2022 will put a damper on housing affordability.” — NAHB chief economist Robert Dietz

Miami got its first glimpse of The Standard Residences, Midtown Miami, during a recent launch celebration held at The Standard Spa Miami Beach, according to a press release. Hosted by The Standard International Executive Chairman Amar Lalvani and Rosso Development CEO Carlos Rosso, the event showcased a preview of the hotel brand’s first-ever residential residences.

There may be a construction boom, but builders still have a lot of ground to make up from a decade of underbuilding, according to a new report from Zillow.

Standard International and Rosso Development recently announced the launch of The Standard Residences in Midtown Miami, the first of its kind in the area, according to a press release.

The Estate Companies (EIG) and PTM Partners (PTM) have announced the completion of Soleste Grand Central, a 360-unit rental development located at 218 NW 8th St.

Sales have launched for units in Brickell’s new 35-story luxury condominium complex. Led by Harvey Hernandez, Newgard Development Group will construct the building under its newest brand name, Lofty Miami.

November’s reading of 83 was up three points from October, driven by low existing inventories and strong buyer demand, the National Association of Home Builders reported, citing the latest NAHB/Wells Fargo Housing Market Index.

Housing observers noted that demand for housing remains robust despite the lack of new supply.

“There simply aren’t enough homes for sale relative to the demand fueled by millennials armed with low mortgage rate-driven house-buying power.” — First American Deputy Chief Economist Odeta Kushi

The decrease was driven by a 5.1% month-over-month slide in the rate of multifamily starts, while single-family construction was flat.

The seasonally adjusted estimate of new houses for sale at the end of July was 378,000, representing a supply of 6.1 months at the current sales rate.