Bonita Springs-based homebuilder WCI Communities reports the company’s revenues rose nearly 42 percent compared with the same quarter a year ago. The builder reported net income of $6.7 million on revenues of $138.3 million in the quarter ending March 31 versus a net income of $5.7 million on revenues of $97.7 million in the same quarter one year ago. WCI delivered 254 homes in the first quarter, an increase of 116 units from the same quarter in 2015, with an average sales price of $432,000, down 11.1 percent. The sales price fell because the company has transitioned to building lower priced active-adult homes.
“While demand trends appeared to generally moderate across Florida this quarter when compared to the prior year, we believe the Florida housing market remains healthy,” says Keith Bass, WCI’s president and CEO, in a statement. “We remain optimistic in our long-term view of the Florida housing market given the state’s positive demographic, economic and real estate fundamentals.”
