Weekly Real Estate News
The top-selling master-planned communities (MPCs) of 2023 were mostly concentrated in Florida and Texas, according to the newly published “Top 50 Master-Planned Communities of 2023” by John Burns Research and Consulting.
The new report found Florida MPCs accounted for 40% of new home sales in the top 50 list while developments in Texas followed closely with 34% of top-selling communities – the Lone Star State activity was bifurcated between the stronger Dallas-Fort Worth and Houston markets and the slower Austin and San Antonio markets.
Outside of the dominant two states, the Southwest and Southern California regions captured 12% and 6%, respectively, while the Northeast accounted for 5% of last year’s activity and Northern California has a 3% share.
The new report also determined over 34,000 home buyers purchased new homes in the top 50 master plans in 2023, reflecting a 24% increase from roughly 28,000 in 2022 when escalating mortgage rates slowed new home sales; in the pre-pandemic 2019, there were roughly 31,000 sales in the top 50 master plans. Top 50 master plan sales peaked at 37,000 in 2020 and 36,000 in 2021, which was attributed to pandemic-fueled housing trends.
