COLUMBIA, SC, August 15, 2023—United Homes Group, Inc. (“UHG”) (NASDAQ:  UHG), a leading homebuilder in the Southeast, today announced that it is opening a new division in the Raleigh, NC, area.  The new division, formerly Herring Homes, will be led by Brian Herring and will operate under the Great Southern Homes brand.  Herring has over 20 years’ experience in the industry, previously serving as President and CEO of Herring Homes, which he founded in 2019.  Herring brings with him a team of seasoned homebuilding executives who collectively have over 110 years of industry experience.  This team shares GSH’s focus on homes to suit entry-level and first-time move-up buyers and their corresponding price points.  They also share the commitment to reducing costs to deliver an affordable product to buyers, while expanding margins over time.

“We are very pleased to begin executing our growth strategy with this move into the Raleigh market,” said UHG Chief Executive Officer Michael Nieri.  “Raleigh is the 10th largest market in the nation over the last twelve months, with significant migration into the area and a very healthy job market.  Our strategy is focused on high-growth markets in the southeast, and Raleigh certainly fits the profile for our expansion plans.”

The new Raleigh division will open with 237 lots in inventory within eight communities. The Raleigh division will provide UHG with a strategically valuable foothold in a growing Raleigh market, where the top 10 builders have only a 54% market share.  The Raleigh division will be able to leverage their relationships with local developers and subcontractors that are key in a high barrier to entry market like Raleigh.  With access to growth capital, Herring sees an immediate opportunity to acquire an additional 100+ lots. They estimate that they could very quickly scale this number of lots to capture a very meaningful market share in the Raleigh-Durham market.

“I am thrilled to be joining the UHG/Great Southern Homes team,” said Herring.  “Getting to be part of such an exciting new company is something that doesn’t happen very often.  I believe the focus on the affordable segments of markets in the southeast, combined with the ‘land-light’ business model, makes us a builder with a bright future.”

About United Homes Group, Inc.

UHG is a publicly traded residential builder headquartered in Columbia, SC.  The company focuses on southeastern markets with 52 active communities in South Carolina and Georgia, and now expanding into North Carolina.  UHG has been recognized as one of the top 50 builders by Builder magazine.

Forward-Looking Statements

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