Neal Leads the Way Out of Recession Selling More Than One Home a Day in April

SARASOTA, Fla., May 2, 2011 - The signs point to a local housing rebound—buyers are back, inventories are declining and consumer confidence is increasing. Neal Communities signed 35 contracts in April—more than one per day. The Lakewood Ranch neighborhoods of Belleisle and Central Park accounted for more than half of the activity. The numbers point to continued sales success in Manatee and Sarasota, as Florida moves out of the recession.

“People are more optimistic about their futures and the future of Florida. They know this is the place they want to call home,” says Neal Communities President Pat Neal. “We have continued to build and to grow during the slow times, so that as the recession closes, we have the homes available to meet the current demands.”

Real estate development expert David Parker, of Parker Associates, calculates that Lakewood Ranch is leading Florida out of the recession. In Lakewood Ranch, during the first quarter, there were 3,000 first time visitors and 2,000 returning visitors. “I don’t think anyone has had the jump that Lakewood Ranch has had,” said Parker. “Here, Neal Communities is leading the way out of the recession. That is largely due to Pat Neal’s buying into the recovery schedule and moving forward with Belleisle and Central Park.”

The people who are coming here are those who have the ability to buy homes right now. Mature adults who are ready to relocate or buy second homes account for 68 percent of the visitors.

“We are welcoming guests from both Florida as well as throughout the United States,” observes Sales Manager Jonnie Dwyer. “Many people who were visitors when Central Park just opened, are absolutely shocked at how it has progressed.”

Florida itself is on the rebound. Consumer confidence rose from 70 to 77 in March. “That’s a 10 percent increase, which is huge,” says Parker. According to Metrostudy, “The worst job losses are now behind us, and the market is now showing signs of job creation…The foundation is in place to see improvements in the housing sector as we move through 2011 and into 2012.”

Additionally, the Manatee Association of Realtors®, reports the inventory of homes for sale has dropped to 4.2 months, the lowest level in the last year, and 50 percent lower than last year at this time. The economic data as well as the general feelings of optimism are aligning to bring buyers back to the market. They are choosing Neal Communities for the value, quality and design.

There  were 11 contracts in Central Park, 9 in Belleisle in Country Club East,  7 in The Lakewood Ranch Country Club  (3 in Silverwood, 2 in Edenmore, 1 in Thornhill and 1 in Greystone), 3 in Forest Creek, 1 in Miramar, 1 in Wisteria Park, 1 in River Sound, 1 in the Harborage and 1 in Sawgrass in Venice.

Neal Communities is ranked #1 locally by HBW Inc. based on number of permits issued in 2010 and by Metrostudy and 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, interior design, 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.