Invitation Homes Inc. and PulteGroup, Inc. announced the formation of an innovative strategic relationship. As part of this relationship, Invitation Homes expects to purchase approximately 7,500 new homes over the next five years that PulteGroup will design and build expressly for this purpose. The companies have already reached agreement on the construction and sale of over 1,000 homes across seven communities over the next several years, with the first sales expected to close in 2022.

Initial projects are scheduled for delivery in Florida, Georgia, Southern California, North Carolina and Texas.