Home sales

Summerlin ranks 3rd nationally for new home sales in 2021

RCLCO RANKS SUMMERLIN® #3 NATIONALLY FOR NEW HOME SALES IN 2021

LAS VEGAS, NEV. – The Prime Planned Community (MPC) of Summerlin®, a development of The Howard Hughes Corporation® (NYSE: HHC), ranked #3 for the fourth consecutive year in RCLCO’s National New Home Sales Report in 2021. Summerlin is once again Nevada’s highest-ranked MPC on the annual list, posting an increase in annual home sales of more than 13%, with 1,619 new homes sold in 2021.

According to Karl Pischke, principal of RCLCO Consulting, which has been ranking MPCs since 1994, Summerlin leads all actively ranked MPCs in total number of appearances on the national list of top-selling MPCs, with more than 25 years of ranking. in the top-25. This includes one top-ten appearance each year from 1994 to 2007, followed by one top-ten appearance each year since 2015, and one top-three appearance in each of the past four years . “It’s a very impressive race and a distinction held by no other MPC in the country,” he said.

“Summerlin continues its remarkable history of enduring success with another year of strong sales momentum and new developments that keeps this exceptional community attractive to homebuyers, businesses and investors,” said Kevin T. Orrock, President, Las Vegas area, The Howard Hughes Corporation. . “In particular, as Downtown Summerlin continues to expand its office supply and capitalize on the national trend of bringing workplaces closer to home, more residents will benefit from shorter commutes, which will improve overall quality of life. »

Now entering its 32nd year of development, Summerlin offers more amenities than any other community in Southern Nevada. This includes over 250 parks of all sizes; community centers, swimming pools and events reserved for residents; Over 150 miles of interconnected trails; ten golf courses; 26 public, private and charter schools; a public library and performing arts center; Summerlin Hospital Medical Center; places of worship representing a dozen different denominations; office parks; neighborhood shopping malls; and, of course, Downtown Summerlin®, featuring fashion, dining, entertainment, Red Rock Resort, office towers, City National Arena, home of the Vegas Golden Knights National Hockey League practice facility, and Las Vegas Ballpark®, a Triple – A baseball stadium and home of the Las Vegas Aviators®.

In total, Summerlin currently offers over 115 floor plans in over 20 neighborhoods spread across eight distinct villages and districts. The homes, built by many of the nation’s top homebuilders, come in a variety of styles, from single-family homes to townhouses, ranging in price from $300,000 to over $1 million.

“We continue to see people and businesses relocate to Summerlin to take advantage of the exceptional quality of life our community offers,” said Orrock. “We will continue to accelerate development to meet the growing demand for residential land and offer exceptional quality products at all price points for all market segments, from millennials to empty nesters and retirees.” The price per acre of land in Summerlin continues to rise, and the momentum in new home sales is a great indicator of what’s to come for this amazing community.

For more information on all the neighborhoods that are actively selling, visit Summerlin.com.

About Summerlin®

Developed by The Howard Hughes Corporation®, Summerlin began taking shape in 1990 and ranked among the top 10 selling planned communities in the nation for nearly two decades. Located along the western edge of the Las Vegas Valley, Summerlin encompasses 22,500 acres with approximately 5,500 gross acres remaining to accommodate future growth, including infrastructure, open spaces and common areas, all within the framework of the master plan. The community is currently home to nearly 100,000 residents who enjoy an unparalleled list of amenities. These include over 250 neighborhood and village parks, over 150 miles of completed trails, 26 public and private schools, 14 houses of worship, ten golf courses, Downtown Summerlin®, shopping malls, medical facilities and cultural, business parks and dozens of actively selling floor plans. Homes come in a variety of styles – from single-family homes to townhouses – ranging in price from $300,000 to over $2.5 million. Summerlin is recognized as one of the best places in the country to raise a family and run a business, named MPC of the Year for 2020 by the National Home Builders Association. For more information on custom residential sites at The Ridges, please call 702.255.2500. Luxury apartments offer monthly rents starting at $1,200. Visit www.summerlin.com for more information.

About Howard Hughes Corporation®

The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate across the United States. At New York; Downtown Columbia®, Maryland; The Woodlands®, The Woodlands Hills® and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; Ward Village® in Honolulu, Hawaii; and Douglas Ranch in Phoenix. The Howard Hughes Corporation portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to creating innovative places, the company is recognized for its ongoing commitment to design excellence and the cultural life of its communities. The Howard Hughes Corporation is listed on the New York Stock Exchange as HHC. For more information, visit www.howardhughes.com.

Safe Harbor Statement

Statements made in this press release that are not historical facts, including statements accompanied by words such as “will”, “believe”, “expect”, “allow”, “achieve”, “plan “, “intend”, “assume”, “”inform” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied by such statements. Factors that could cause cause actual results to differ materially are disclosed as risk factors in The Howard Hughes Corporation’s filings with the Securities and Exchange Commission, including its quarterly reports riels and annuals. Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation undertakes no obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that occur after the date of this release.