Bethesda, MD, January 05, 2019 --(PR.com
)-- RCLCO Real Estate Advisors (www.rclco.com) released the results of their national survey of the top-selling master-planned communities in 2018. Read the full, detailed report online at: http://www.rclco.com/advisory-top-selling-master-planned-communities-2018
For 25 years RCLCO Real Estate Advisors has conducted a national survey identifying the top-selling master-planned communities. The ranking of top communities is based on total home sales as reported by each individual community. In 2015, RCLCO started conducting a mid-year update, evolving the report into a semiannual publication.
Some highlights of the survey results include:
· Communities on the 2018 list experienced average growth of approximately 5% over their totals in 2017 for those that were previously ranked.
· The Villages, with 2,134 home sales, is once again the top-selling community in the country.
· Sarasota, Florida’s Lakewood Ranch improved its ranking once again, claiming the second overall spot.
· Texas, Florida, and California account for 67% of total sales among the 50 top-selling communities, with the share of total sales in other states increasing from 32% to 33% since 2017.
· Florida continues to dominate the Top-5 of the list, with The Villages, Lakewood Ranch, and West Villages reaching the first, second, and fifth spots, respectively.
In Summary: Despite steadily rising home prices and rising mortgage interest rates, 2018 was generally a good year for MPCs. The outlook for 2019 is that even with the pace of home price increases slowing, reduced affordability will make it challenging to maintain the total sales pace, without a shift in the mix of housing products being offered to include a greater share of attainable-priced product. Average new home prices are up over 50% since the recovery from the great recession (not adjusted for inflation) and that combined with higher interest rates will continue to dampen the pace of sales. While economic growth may slow in 2019, most economists are not predicting a recession before 2020. Consumer confidence remains strong. If and when uncertainty becomes greater, MPCs typically benefit as consumers perceive them to be a safer bet to preserve equity. All this suggests that 2019 will be a good, if not great year, for MPCs.
In addition to this semi-annual report, RCLCO prepared an interactive map tool which visualizes the sales at Top-Selling MPCs across the country from 2013 to 2018, available online here:
Through this visualization tool, it is clear to see that Florida, Texas, and California represent the largest share of home sales among the top-selling communities, with the share of sales in other states steadily growing over the past 5 years.
Since 1967, RCLCO has been the "first call" for real estate developers, investors, public institutions and non-real estate companies seeking strategic and tactical advice regarding property investment, planning, and development. RCLCO leverages quantitative analytics platforms and a strategic planning framework to provide end-to-end business planning and implementation solutions at an entity, portfolio, or project level. With the insights and experience gained over 50 years and thousands of projects - touching over $5B of real estate activity each year - RCLCO brings success to all product types across the United States and around the world. RCLCO is headquartered in Washington, DC, and has offices in Los Angeles, Orlando, and Austin. To learn more about RCLCO, visit www.rclco.com.