LAKEWOOD RANCH — Neal Communities closed out 2019 with 1,000 overall home sales — part of a surge in business company officials project will carry through into 2020.
In addition to home sales, the Waterscapes Pools and Spa division closed 394 pool sales in 2019, according to a press release. And, in a move that shows the company's confidence in the area housing market, Neal Land and Neighborhoods acquired land to build 15,000 new homes. Both of those entities are part of the Neal Communities’ family of companies.
Neal Signature Homes, the company’s luxury home division, sold 68 properties. Neal Signature Homes’ latest community in Venice, Aria, opened in fall 2019. The luxury home division plans to open at least one more community in Venice this year to serve the higher-end market.
“Overall, 2019 was another strong year for the local housing market due to rising home values, low interest rates and continued migration to Florida,” says Pat Neal, founder and chairman of Neal Communities, in the statement. “At Neal Communities, we saw significantly increased homebuyer activity coming from northern states and from millennial buyers.”
Neal Communities also plans to open three new affordable home communities in Parrish, Lakewood Ranch and Venice in 2021.
The company has considered external economic factors to anticipate the local housing market’s performance for 2020.
“In an election year, we actually see the housing market perform very well,” says Mike Storey, president of Neal Communities, in the statement. “Contrary to popular belief, consumers are becoming somewhat immune to election year turmoil when it comes to homebuilding and buying.”
Neal Communities, based in Lakewood Ranch, has built over 15,000 homes in more than 90 communities from Tampa to Naples. Company sales in fiscal year 2018 were $464 million.