THE WOODLANDS, Texas - Howard Hughes (NYSE:HHH) Holdings Inc. (NYSE: HHH) announced that two of its master planned communities (MPCs), Summerlin and Bridgeland, have been distinguished as among the top five best-selling MPCs in the United States for 2023. The report from national real estate consultant RCLCO places Summerlin at number four with a 39% increase in new home sales year-over-year, and Bridgeland at number five with a 74% increase.
Summerlin, located in Las Vegas, Nevada, sold 1,090 new homes in 2023 and has been recognized for over 27 years as a top-selling community. Bridgeland, in the Greater Houston area, Texas, set a record with 985 homes sold, marking its most successful year since its inception. The significant sales growth in Howard Hughes communities reflects a broader trend, with the country's 50 top-selling MPCs experiencing a nearly 14% increase in home sales last year.
David R. O'Reilly (NASDAQ:ORLY), CEO of Howard Hughes, attributes the success to the high-quality living standards and amenities provided by their communities, which continue to attract top talent and businesses. The company reported a 113% year-over-year increase in new home sales and a 43% increase in land sales.
In Las Vegas, the Summerlin community is entering its 34th year and is poised for continued growth with the development of new neighborhoods and amenities, including the vibrant urban core of Downtown Summerlin. Bridgeland in Texas is undergoing a significant expansion with the development of Bridgeland Central, a 925-acre downtown area that aims to transform the Northwest Houston region.
The Houston Metropolitan Statistical Area (MSA) was noted as the top-performing area in the nation, accounting for 23% of all sales among top-ranked MPCs. Both Summerlin and Bridgeland offer a variety of housing options and extensive outdoor amenities, emphasizing conservation and enhancement of the natural environment.
This announcement is based on a press release statement, presenting the achievements of Howard Hughes communities in the real estate market.
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