Sales Increase in Master-Planned Communities

(Courtesy RCLCO)

New home sales among the 50 largest master-planned communities increased in first-half 2023 compared to a year ago, reported RCLCO, Bethesda, Md.

“Master-planned communities remain a safe haven for consumers amid elevated interest rates, high prices, and fears of a possible recession,” RCLCO Principal Karl Pischke said. He noted top communities sold 7% more homes in the first half of 2023 compared to the same period last year, when supply chain issues and limited inventories placed significant downward pressure on sales performance.

“High interest rates and affordability issues continue to be a concern, however most master-planned communities respondents cited optimism for sales potential in the second half of the year,” Pischke said.

RCLCO’s Mid-Year 2023 Master Planned Communities Report also found:

•             The Villages in central Florida is once again estimated as the top-selling community in the nation;

•             Lakewood Ranch near Sarasota, Fla. claimed the number two spot overall and is the number one selling all-ages community in the country with 1,227 sales – a 20% increase over the pace set in the first half of 2022;

•             Sunterra in Houston earned the third-place rank with 669 sales – a 26% increase over the same time period last year;

•             Metro Houston was the top-performing metropolitan area with 14 communities in the top 50, representing more than 5,000 sales, or almost 26% of all sales among ranked MPCs;

•             Florida represented about more than 40% of sales among ranked communities, followed by Texas at nearly 38%.

“New home sales in master-planned communities represent only a fraction of total sales in the country, but the trends and patterns we see there tell us a lot about the state of the housing market overall,” Pischke said. “The continuing strength of sales shows patterns of growing demand, demographic tailwinds, and internal migration trends across the country.”