Exhibit 99.1

AV Homes Reports Results for First Quarter 2014

Scottsdale, AZ (May 7, 2014) – AV Homes, Inc. (Nasdaq: AVHI) (“AV Homes” or the “Company”), a developer and builder of active adult and conventional home communities in Arizona, Florida and North Carolina, today announced results for its first quarter ended March 31, 2014. AV Homes reported a first quarter net loss of $1.9 million, or ($0.09) per share, compared to a net loss of $4.8 million, or ($0.38) per share, in the first quarter of 2013. Total revenue for the first quarter of 2014 increased 75% to $43.9 million from $25.1 million in the first quarter of 2013.

Roger A. Cregg, President and Chief Executive Officer, commented, “Despite a softer start to the spring selling season than anticipated, we had a solid first quarter highlighted by an increase of 24% in homes delivered, 48% increase in net new orders, 25% growth in homebuilding revenue and narrowing the net loss by 60% in the first quarter of 2014 compared to the same period last year. We completed the acquisition of Royal Oak Homes in Central Florida and continued to selectively acquire and open new communities in support of our long-term growth strategy. We enter the second quarter of 2014 with a strong financial position and adequate liquidity to support further growth opportunities. We remain optimistic about our business and continue to focus on improving our profitability.”

The increase in total revenue for the first quarter of 2014 compared to the prior year period included a 25% increase in homebuilding-related revenue to $28.1 million. The increase in homebuilding revenue was driven by volume increases and improved selling prices. During

the first quarter of 2014, the Company closed on 100 homes, a 24% increase from the 81 homes closed during the first quarter of 2013, and the average unit price per closing rose 3.0% to $256,000 from $249,000 in the first quarter of 2013. In addition, the Company recorded $15.7 million of land sales and other revenue in the first quarter, primarily related to the sale of a non-core multi-family property in Arizona to a related party as it continues to execute its portfolio rationalization strategy.

The number of new housing contracts signed, net of cancellations, during the three months ended March 31, 2014 increased 48% to 200 units, compared to 135 units during the same period in 2013. The average sales price on contracts signed in the first quarter of 2014 rose 14% to $249,000 compared to the same period a year ago. The aggregate dollar value of the contracts signed during the first quarter increased 70% to $49.9 million, compared to $29.4 million during the same period one year ago. The backlog of homes under contract but not yet closed at March 31, 2014 increased 62% to 388 units, representing a dollar volume of $97.2 million, compared to 239 units with a dollar volume of $53.2 million at March 31, 2013.

Homebuilding gross margin, including commissions was 15.5% in the first quarter of 2014 compared to 16.2% in the first quarter 2013. Commission expense in the first quarter 2014 was $1.1 million compared to $0.9 million in the first quarter of 2013. Net loss to common stockholders was $1.9 million or ($0.09) per share in the first quarter of 2014 compared to a loss of $4.8 million, or ($0.38) per share in the first quarter of 2013.

AV Homes acquired Royal Oak Homes, LLC on March 14, 2014. Accordingly, the first quarter 2014 financial statements include the net assets acquired on that date and the results of operations of Royal Oak Homes from the date of acquisition through March 31, 2014, as well as $0.9 million of costs related to the acquisition. The Company has completed its preliminary analysis of its business combination accounting as of March 31, 2014 and expects to substantially complete the remainder in the second quarter of 2014.

During the first quarter of 2014, the Company continued to invest in the business through the acquisition of Royal Oak Homes for $65 million, in addition to $16 million of other lot

acquisitions and $18 million in land development and home construction. This use of cash was partially offset by net proceeds from the sale of land of $16 million. Additionally, on April 7, 2014 as previously announced, the Company entered into a three-year, $65 million senior secured credit facility, providing enhanced liquidity to its capital structure, subject to certain terms and conditions.

The Company will hold a conference call and webcast on Thursday, May 8, 2014 to discuss its first quarter financial results. The conference call will begin at 8:30 a.m. EDT. The conference call can be accessed live over the telephone by dialing (877) 643-7158 or for international callers by dialing (914) 495-8565; please dial-in 10 minutes before the start of the call. A replay will be available on May 8, 2014 at 11:30 a.m. and can be accessed by dialing (855) 859-2056 or for international callers by dialing (404) 537-3406; the conference ID is 40375785. The replay will be available until May 15, 2014. In order to access the live webcast, please go to the Investors section of AV Homes’ website at www.avhomesinc.com and click on the webcast link that will be made available. A replay will be available shortly after the original webcast.

AV Homes, Inc. is engaged in homebuilding, community development and land sales in Florida, Arizona and North Carolina. Its principal operations are conducted near the Orlando, Florida, Phoenix, Arizona and Raleigh/Durham, North Carolina markets. The Company builds communities that serve active adults 55 years and older and people of all ages. AV Homes common shares trade on NASDAQ under the symbol AVHI.

This news release, the conference call and the webcast contain “forward-looking statements” within the meaning of the U.S. federal securities laws, which statements may include information regarding the plans, intentions, expectations, future financial performance, or future operating performance of AV Homes, Inc. Forward-looking statements are based on the expectations, estimates, or projections of management as of the date of this news release, the conference call and the webcast. Although our management believes these expectations, estimates, or projections to be reasonable as of the date of this news release, the conference call and the webcast, forward-looking statements are inherently subject to significant business risks, economic and competitive uncertainties, or other contingencies which could cause our actual results or performance to differ materially from what may be expressed or implied in the forward-looking statements. Important factors that could cause our actual results or performance to differ materially from our forward-looking statements include those set forth in the “Risk Factors” section of our Annual

Report on Form 10-K for the year ended December 31, 2013 and in our other filings with the Securities and Exchange Commission, which filings are available on www.sec.gov. AV Homes disclaims any intention or obligation to update or revise any forward-looking statements to reflect subsequent events and circumstances, except to the extent required by applicable law.

AV HOMES, INC. AND SUBSIDIARIES

Consolidated Balance Sheets

($000’s omitted)

(unaudited)

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AV HOMES, INC. AND SUBSIDIARIES

Consolidated Statements of Operations and Comprehensive Income (Loss)

($000’s omitted, except per share data)

(unaudited)

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AV HOMES, INC. AND SUBSIDIARIES

Consolidated Statements of Cash Flows

($000’s omitted)

(unaudited)

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The following table provides a comparison of certain financial data related to our operations for the three months ended March 31, 2014 and 2013:

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Data from closings for the active adult and primary residential homebuilding segments for the three months ended March 31, 2014 and 2013 is summarized as follows:

Data from contracts signed for the active adult and primary residential homebuilding segments for the three months ended March 31, 2014 and 2013 is summarized as follows:

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Backlog for the active adult and primary residential homebuilding segments as of March 31, 2014 and 2013 is summarized as follows:

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