MORE IN CATEGORY
ADVERTISEMENT
As mortgage rates surged and homebuyer demand eased throughout much of 2022, master planned communities (MPCs) saw steady but slowing growth in the wake of lingering supply chain delays stunting development progress. Over 31,000 homebuyers purchased new homes in John Burns Real Estate Consulting’s Top 50 master plans in 2022, an 11% decrease from roughly 35,000 home sales in 2021 and down from 37,000 sales in 2020.
Florida was home to the top three MPC communities, all surpassing 1,000 new-home sales in 2022. Topping the list was The Villages, with 3,923 net sales in 2022, followed by Lakewood Ranch, and Silverleaf, which tallied 1,846 and 1,034 annual sales, respectively, John Burns reports.
Master-planned communities (MPCs) saw strong but slowing demand in 2022, with their shared amenities and desirable lifestyle attracting many home buyers. The 500+ communities we surveyed felt significant supply and demand pressure throughout 2022, with development delays bottlenecking builders’ lot supply and rising mortgage rates pricing out many buyers. Florida commanded the Top 50 ranking with 12 of the top 25 best-selling communities, all of which benefited from strong domestic migration.
