Last year, the top 50 best-selling master plan communities sold a total of 24,401 homes, up 9 percent from 22,447 in sales in 2015.
The Irvine Ranch in Orange County, Calif., was the best selling master plan last year, according to John Burns Real Estate Consulting. The community had 1,989 in sales, a 19 percent increase from 2015. The bump was able to move it past The Villages in Florida, a long-time prominent seller. The Villages, ranked second, had 1,966 in sales last year, down 14 percent from 2015.
Many of the best-selling MPCs are in Florida. Nocatee, West Villages, and Lakewood Ranch all cracked the top 10 with The Villages. Other regions well-represented on the list include Texas (Paloma Creek, Alamo Ranch), Southern California (Great Park Neighborhoods, Baker Ranch), and Las Vegas (Summerlin, Inspirada).
Low mortgage rates, steady job growth, improved income growth, and low resale and new home inventory levels all contributed to strong new home demand in 2016. A growing number of first-time buyers purchased new homes in 2016, and many more are shopping around. Demand in the move-up price bands remained steady, although we identified pockets of heavy competition in many metros where average sales rates declined and incentives grew more common.