CHARLOTTE, NC (October 29, 2013): As the economic recovery gains momentum, the housing market continues to see steady, positive increases in new home construction starts. In the Charlotte market, starts for the first half of the year total 4,217, a 39% increase over the same period in 2012.

David Weekley Homes is also experiencing increased sales consistent with this trend. Across the Charlotte area in 2013, David Weekley Homes has sold 118 homes as of August 31, compared to 107 during the same period last year, for an increase of 10%. The company is on track to sell a total of 160 for the year.

David Weekley Homes has benefitted from the influx of new residents to the metro area, combined with the short supply of resale homes. Many homebuyers are attracted to new construction because of cost-savings associated with new, energy-efficient homes.

• In Springfield Manor, a master-planned community located in Fort Mill, SC, David Weekley has sold 25 homes since opening sales in 2012. From Nov 1, 2012 to Aug 31, 2013 we have 25 sales totaling $15,071,594, which is an average sales price of $602,863.76.
• The Estates of Massey, another Fort Mill master-planned community, has sold 28 home since David Weekley begin selling in June of 2012.
• Weekley's Eagle Park community in Belmont, NC, sold more homes in the last seven months than in all of 2012. From January 1 to August 30, 2013, 61 new homes were sold in the community, versus only 23 for all of 2012.

In addition to improved sales, another indication of the improving housing industry is opening of new communities. In July 2013, Weekley opened The Cottages at the Landing, an enclave of 25 homesites located in Lake Wylie, SC. In just one month, the sales team sold three homes, and registered 75 prospective homebuyers. Weekley also opened a model home, The Gilchrist.

“This is truly an exciting time for us,” says Mark Gibbs, Charlotte Division President for David Weekley Homes. “The housing market is showing significant improvement, the Charlotte population is growing steadily, so we have big plans for our future as one of the premier homebuilders in this market. By next summer, we will have a number of highly attractive, diversified communities opening throughout the metro area. In the next three years, our annual goal for total homes sold will increase to 250, up from our current annual goal of 160.

“Additionally, the stronger housing market has allowed us to be more aggressive in securing land in prime locations for homes,” continues Gibbs. “To accommodate this growth, we are also expanding our local teams with new hires and increasing our presence in existing communities. These are all necessary for us to meet and exceed our goals in 2013 and beyond.”


About David Weekley Homes
David Weekley Homes, founded in 1976, is headquartered in Houston and operates in 17 cities across the United States. David Weekley Homes was the first builder in the United States to be awarded the Triple Crown of American Home Building, an honor which includes “America’s Best Builder,” “Builder of the Year,” and the “National Housing Quality Award.” Weekley has also appeared seven times on FORTUNE® Magazine’s coveted “100 Best Companies to Work For” list. Since inception, David Weekley Homes has closed more than 70,000 homes. For more information about David Weekley Homes, visit the company’s web site at www.davidweekleyhomes.com.