The airplane porpoised during landing, which resulted in the collapse of the nose landing gear. The pilot stated that he noticed the airplane was "higher than normal and a little fast" during final approach and to correct he "added full flaps slowing down to the right speed, but noticed a faster descent rate." The pilot reported that he increased engine power to arrest the descent, but during the landing flare the airplane's nose "dropped and hit the runway first and ballooned the aircraft back into the air quite abruptly." The pilot stated that he "immediately applied full power for a go around ... the aircraft turned slightly to the right because of a slight crosswind, and there was not enough altitude to nose down and raise the flaps at the same time." The pilot reported that the airplane's nose "sharply dropped and hit the nose gear on the runway for a second time and broke off, hitting the prop and stopping the engine." The pilot stated that the airplane impacted a taxiway sign before coming to a stop. The pilot reported that the accident could have been prevented if he had initiated a go-around after noticing the airplane was not on a stabilized final approach.