Arizona-based Taylor Morrison, the nation's fifth largest homebuilder, saw its net sales increase 94% annually in June, a record monthly pace.Sales were strong across the company's portfolio, which covers 22 major housing markets in 11 states.
"To experience our best sales month in company history amid a pandemic, amid transitioning our business to a virtual environment seemingly overnight, and amid the economic and psychological impact on consumers speaks volumes to not only Taylor Morrison's resiliency, but our customers' resiliency, too," said Chair and CEO Sheryl Palmer.
Palmer credits the success, in part, to new technology and online tools that allow customers to do self-guided tours. Most builders and real estate agents have been relying on virtual and self-guided tours since the pandemic began, but builders have the advantage, as it is easier for them to allow potential buyers to tour homes on their own.
As for what's behind the strong demand, Taylor Morrison conducted a survey in late May and found the number one driver for buyers is better home technology to enable remote working and home schooling.
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