Neal Communities: March Sales Up 100% From Last Year

April 7, 2011 - PRLog -- Southwest Florida – The first Quarter of 2011 finished strong for Neal Communities, with a total of 47 sales signed for the month of March and 107 for the quarter.  This represents a 100 % increase over March 2010 and an 85% increase in sales over the first quarter of 2010. In March, activity remained vigorous as buyers realized that prices are not going any lower and the home they want may very well not remain available. These are solid buyers, not speculators or investors.

“Talk of the demise of the housing market is greatly exaggerated. Almost all signs point to improvement in the economy in general and real estate specifically. This is a strong and steady market rebound; the kind of recovery that lasts.” says Neal Communities President Pat Neal. “We are also seeing the second home buyers return, and Manatee and Sarasota remain favorite locations for these vacation and retirement home buyers.”

Sales are strong in all segments and price ranges. River Sound is 90% sold out with only 28 homes still available. In March, there were 13 sales in Central Park at Lakewood Ranch, 12 in Forest Creek,  7 in River Sound, 7 in Country Club East (including 3 in Belleisle and 1 in Secret Harbor—the newest neighborhoods in CCE), 5 in The Lakewood Ranch Country Club, 2 in Wisteria Park, and 1 in The Lakes of Jacaranda in Venice.

A recent study by Ivy Zelman & Associates (February 7, 2011) indicates that “Once confidence begins to improve and consumers’ actions start to match their statements, historical data would suggest that the snapback in starts could be significant.” As for pricing, Zelman suggests that is a strong indicator of transactions.”As homes were perceived to be increasingly expensive, consumers began to withdraw from the market and transaction activity followed…the collapse of home prices has left consumers more bullish on home prices than at any point over the last 30-plus years, suggesting that demand could accelerate for consumers that have the savings and income to merit the upfront investment and on-going capital cost of a new home.”

The future  for home builders is sound. Mike Castleman of MetroStudy, which rates Neal Communities #1 in sales locally,  has observed  a significant change in inventory. The number of new homes on the market has declined notably. In fact, in the cities the company studies, compared to 2006, there are now less than one-fourth of the homes either vacant, for sale or under construction. That’s considered a two-and-a-half month inventory, which is tight.

“We’re convinced that is is an ongoing recovery with solid numbers behind  it. As a company, we’re preparing for the future and will build and create new communities throughout Manatee and Sarasota. We are poised to quickly participate in the recovery.”

Neal Communities is ranked #1 locally by MetroStudy and by Hanley Wood Market Intelligence based on number of home sales and #126 among home builders nationally in BUILDER Magazine’s 2009 listing based on sales. As the area’s largest and most established locally owned and operated private builder, Neal Communities’ innovative home building, pool construction, development operations and quality customer service standards all contribute to the firm’s continued, record-setting local success. With  8,000 homes built in Southwest Florida, Neal Communities’ honors and accolades include 37 Awards 2011 Parade of Homes, 44 Aurora Awards, five Best in American Living Awards and hundreds of local and regional industry awards. For more information, visit nealcommunities.com.

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Neal Communities is Southwest Florida’s largest, most established locally owned and operated private company. Its commitment to responsible development, innovative home building, and design excellence serve as the benchmarks for the company’s success.