Posts From Steve Devorak
Orange County New Homes Hitting New Highs
Orange County has been a hotbed of new home activity over the past few years as demand from affluent families and foreign buyers has resulted in ever-increasing prices combined with
TRI Pointe Lowers 2015 Guidance
TRI Pointe Homes released mixed 4Q 2014 earnings on Monday. The company reported earnings of 28 cents per share, which was 2 cents higher than analyst expectations. However, the $635M
Spring Selling Season Starts Off on Right Foot
Although recent existing home sales data has not been that encouraging, new homes sales as reported by the builders would seem to indicate that the spring selling season is off
Toll Reports Strong 1Q 2015
Toll Brothers handily beat the Street with its fiscal 1Q 2015 earnings. Revenue was $835.5M, which represented a 33% increase over the year ago period, and well above the $773.5M
Housing Starts Fall in January
Housing starts fell 2% in January to a 1.07 million annual rate from 1.09 million in the prior month. The decline was primarily due to a drop in single-family starts
Meritage Beats Street on Earnings in 4Q 2014
Another homebuilder beats Wall Street estimates on earnings for 4Q 2014. Meritage Homes produced earnings per share of $1.19, besting the average analyst of $1.03 by 15.5%. Total revenue of
MDC Logs 4Q Earnings Miss
MDC Holdings, which builds under the brand name Richmond American Homes, reported 4Q 2014 earnings of $14.6M or 41 cents per share (adjusted up from 30 cents per share to
Use of Incentives to Move Homes Accelerates
As earnings season progresses, it is becoming apparently clear that there is widespread margin compression, to varying degrees, among the public homebuilders due to decreased pricing power, increases in build
Conventional Financing Gains Ground
In another sign of the increasing health of the housing market, the share of mortgage financing made through conventional loans continues to expand. In 2011, at a low point, the
DR Horton Reports Strong 1Q Earnings
Homebuilding bellwether, DR Horton, the largest homebuilder by revenue in the country, reported earnings of 39 cents a share or $142.5M for its fiscal year first quarter. This was up
