Master-Planned Communities Are In Demand
As we turn the corner into the fall, numbers are showing that master-planned communities (MPCs) are still in popular demand in the housing market today. Although the general housing market has experienced lower sales, the top MPCs in the nation have remained steady. Builders should be looking into being part of an MPC, as recent studies have shown some positive and unconventional results.
RCLCO annually produces a list of the top 50 MPCs based on year-to-date sales and the findings from the midyear report are revealing a glimmer of promise. “New home sales are currently below 2023 levels, though the top 50 master-planned communities nearly match last year’s pace through the first half of 2024,” says RCLCO Managing Director Gregg Logan in this issue.
“New home sales among the top 50 communities are only 0.3% lower than mid- year 2023, while the broader new home market nationally is down 1.1% compared to last year.”
There are plenty of reasons for builders to look into having a footprint in an MPC. Much of that has to do with what these MPCs are able to offer to homeowners.
“(MPCs) create environments where new home buyers believe they will lead better lives due to the housing, features and amenities, aesthetics and other important attributes,” Logan said.
As mentioned, a major draw for MPCs is the amenities offered. Homeowners want to stay connected with their communities and they also want to stay active.
For example, Lakewood Ranch in Sarasota, Florida is ranked second on RCLCO’s list. There’s a portion of the community, Esplanade, featured later in this issue, that focuses on resort-style amenities, including a wellness center, a fitness center and a pool to name a few.
These types of offerings encourage homeowners to feel like they’re part of a family and build some sort of camaraderie; something that’s very important to prospective buyers.
In a past article by Rancho Mission Viejo Senior Vice President of Community Development Kris Maher, she discusses further the types of amenities that help MPCs flourish.
Brian Alvarado is the senior editor at large for Builder And Developer Magazine.
