When it comes to new inventory, some builders have been rather tentative, testing the water with only the tip of their toes. However, M/I Homes is taking a more bold, aggressive stance when it comes to building. The firm, a CandysDirt.com Hot Builder, is planning a rapid expansion in the North Texas area after building 17 homes in the Dallas-Fort Worth market last year.
Today M/I Homes is offering custom builds in Garland, Plano, Grand Prairie, Lewisville, and McKinney. Additional communities in Colleyville, Prosper, and Keller will open later this year, officials inside the company say. The goal is to sell 170 new homes in 2015, a 900 percent increase over last year, 300 homes in 2016, and around 400 homes in 2017.
This kind of rapid expansion has necessitated new leadership in this quickly changing market, and M/I Homes just announced the promotion of Gary Rae as president of Dallas-Fort Worth operations.
“We are uniquely positioned to take advantage of the strong growth in the region, including the expansion of State Farm in Richardson and the Toyota relocation to Plano,” Rae said in a statement. “There is a strong market for the products we offer ranging from high quality homes at prices between $250,000 at the low end and more than $1 million at the higher end of the spectrum.
“We have the capital to secure and develop the best sites in the fastest growing areas of the region,” Rae added. “We are a strong competitor nationally and are focused on continuing to grow the Dallas/Fort Worth market aggressively.”
M/I Homes is a national brand, building more than 91,000 homes all across the U.S. Other Texas markets M/I Homes has built in include Austin and San Antonio.