Posts From Steve Devorak
Los Angeles Housing Market Continues to Show Strength
Housing prices in greater Los Angeles rose 4.8% from the prior quarter while sales improved by 6.5% with houses staying on the market an average of five days. The median
Woodbridge Pacific Shores Up Capital Base
With an equity commitment of up to $200M from a New York-based private equity firm, Woodbridge Pacific Group, an Orange County-based builder and developer, seems to be well positioned to
KB Q2 Earnings Beat the Street
KB Home reported Q2 earnings that beat Wall Street consensus estimates. Earnings came in at $9.6 million, or 10 cents a share, versus analyst estimates of 8 cents per share.
Land Shortage Impeding New Home Supply
In a May survey by the National Association of Homebuilders, 60% of respondents stated that the overall supply of developed lots was low to very low, the highest percentage since
Pull Back in Housing Starts but Rise in Permit Activity
Starts dropped in May by 11% from April and came in at an annualized rate of 1.04 million units. The April starts figure was a seven-year high. Despite the drop,
Standard Pacific Turns 50
Local heavyweight Standard Pacific is celebrating 50 years in the homebuilding business. In this article from Builder Magazine, the Orange County-based builder is profiled with a look at its major
The New Home Company Makes C-Suite Shifts
Joseph Davis, Chief Investment Officer of The New Home Company, resigned his post effective June 26, 2015. Mr. Davis, a long-time veteran of The Irvine Company prior to New Home,
Toll Beats on Profits, Misses on Revenues
Toll reported Q2 2015 earnings of $67.9M, or 37 per cents per share, beating analyst estimates of 35 cents per share. Revenues came in lower than expected at $852.6M versus
The Return of the First-Time Buyer
Homebuilders are reporting that they are seeing more activity from first-time buyers now than in the earlier part of the housing recovery. While the first phase of the recovery was
Prices and Sales Volume Up in Southern California
Year-over-year prices were up 6.2% in April to a median of $429,000 in Southern California. Sales volume climbed 8.5%. At the current pace, there is 3.6 months of inventory in
