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Builders Start to Look Up
by juliaredstone | February 9, 2010 at 08:39 am
81 views | 2 Recommendations | 1 comment
Home builders are looking a lot less bad. And that's good.
Fewer write-downs and new-home order cancellations along with improved order rates are some of the most positive signs from home builders since the housing market began to roll over four years ago.
Aside from the nation's banks, no industry was humbled by the recession quite as much as home builders. But, similar to the banks, builders got a lot of support from Uncle Sam, which has helped some recently return to profitability...
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First Flagged at 8:56 AM, Feb 9, 2010 by Hugh Askew
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juliaredstone
Los Angeles, California, United States




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at 09:13 on February 9th, 2010
Let's see, for Beazer Homes first quarter new-home orders rose almost 37% to 728, and its cancellation rate fell to 27% from 46% a year earlier.
So that is better news - than last year.
On the downside, in this case, the way, way, downside, Beazer built/sold 4300 homes last year.
In 2006, they sold over 16,000. oooouch!
Improving from one quarter to the next is nice, but it sure isn't much when viewed against the past.