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sold out in approximately two years , with home sales averaging five per week . Additionally , we offered 85 homes for sale below market rate .
This was a unique redevelopment opportunity for Landsea Homes where we transformed an industrial site into a high quality , urban-infill , master-planned residential community . We developed it utilizing green technology and sustainable elements . The community met housing needs for rapid population and employment growth in the area . We also implemented active recreation spaces which are an integral part of the community and offer a broad range of recreational experiences , social interaction , and cultural opportunities .
Considering issues in the homebuilding industry now , such as labor shortages , inflation , supply chain delays , how are you grappling with these obstacles ? How are they impacting you and your team ?
Our company and the wider new home industry demonstrated great resiliency in the first quarter by adjusting to changing market conditions and finding ways to bring buyers back into the market .
Our 2023 has started off strong and we continue to see motivated buyers across the board . Our ability to offer an array of homes with attractive financing incentives and our leading High Performance Home features give us a distinct selling advantage against the competition and provide a real value proposition for buyers in the market .
We are bullish about the new home sector , thanks to a resilient job market , favorable demographics and limited supply of existing home inventory .
What do you feel is the biggest problem in the homebuilding industry no one is talking about ? How do you believe the problem should be solved ?
Local planning and regulation restrictions contribute to the high cost and extended time it takes to build affordable homes in many cities across the US . A uniform building code and planning process would
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