ELS · 10-Q · 2026Q1 · Full report
Home Sales and Other
EQUITY LIFESTYLE PROPERTIES INC · 2026-04-28 · Importance 44 · Surprise 58
New home sales closed were 87 units in Q1 2026 versus 117 units in Q1 2025, a decline of 30 units driven by timing and supply of new homes. Gross revenues from new home sales decreased $1.7 million (18.3%) to $7.7 million for Q1 2026, while cost of new home sales decreased $0.6 million (6.6%). The mix shifted toward a higher percentage of lower-priced homes in Q1 2026, reducing average transaction value versus Q1 2025. Brokered resales and ancillary services revenue was relatively stable at $10.6 million (down $0.2 million, -1.5%).
Key facts
- Purchase of manufactured homes was $21,962 thousand for the quarter ended March 31, 2026 compared to $11,273 thousand in the prior year quarter
- Manufactured homes, net cash flow was $(14,313) thousand for the quarter ended March 31, 2026 compared to $(3,074) thousand in the prior year quarter
- Gross revenues from new home sales were $7,708 thousand for the quarter ended March 31, 2026, a decrease of $1,721 thousand (18.3%) from $9,429 thousand in the prior year quarter
- Cost of new home sales was $8,014 thousand for the quarter ended March 31, 2026, a decrease of $568 thousand (6.6%) from $8,582 thousand in the prior year quarter
- Gross revenues from brokered resales and ancillary services were $10,560 thousand for the quarter ended March 31, 2026, a $160 thousand decrease (1.5%) from $10,720 thousand in the prior year quarter
- ELP closed 87 new home sales during the quarter ended March 31, 2026
- Home selling and ancillary operating expenses were $6,823 thousand for the quarter ended March 31, 2026, a 10.6% increase from $6,168 thousand in the prior year quarter
- Sale of manufactured homes was $7,649 thousand for the quarter ended March 31, 2026 compared to $8,199 thousand in the prior year quarter
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | negative | realized | -0.4% | Gross revenues from new home sales were $7,708 thousand for the quarter ended March 31, 2026, a decrease of $1,721 thousand (18.3%) from… |
| assets | positive | realized | +0.4% | Purchase of manufactured homes was $21,962 thousand for the quarter ended March 31, 2026 compared to $11,273 thousand in the prior year… |
| cash | negative | realized | -0.2% | Manufactured homes, net cash flow was $(14,313) thousand for the quarter ended March 31, 2026 compared to $(3,074) thousand in the prior… |
| operating_income | positive | realized | +0.1% | Cost of new home sales was $8,014 thousand for the quarter ended March 31, 2026, a decrease of $568 thousand (6.6%) from $8,582 thousand… |
| revenue | negative | realized | -0.0% | Gross revenues from brokered resales and ancillary services were $10,560 thousand for the quarter ended March 31, 2026, a $160 thousand… |
| revenue | positive | realized | — | ELP closed 87 new home sales during the quarter ended March 31, 2026 |