by Calculated Risk on 2/04/2013 09:09:00 AM
Monday, February 04, 2013
Lawler: More Home Builder Results for Last Quarter
CR Note: the following comments and table are from economist Tom Lawler.
This table is for many of the public home builders as of Dec 2012.
This shows that combined net order are up 37% compared to Q4 2011. As Lawler notes, the combined backlog is up 57.1%!
From Tom Lawler:
The combined order backlog of these companies at the end of 2012 was 26,638, up 57.1% from the end of 2011.
While not all builders comment on pricing trends, those that do have reported increased prices, “pricing power,” and/or lower incentives/price concessions.
As one builder noted, “being able to sell homes at a price that is higher than what it costs to build them is ‘sweet’.”
Net Orders | Settlements | Average Closing Price | |||||||
---|---|---|---|---|---|---|---|---|---|
Qtr. Ended: | Dec 2012 | Dec 2011 | % Chg | Dec 2012 | Dec 2011 | % Chg | Dec 2012 | Dec 2011 | % Chg |
D.R. Horton | 5,259 | 3,794 | 38.6% | 5,182 | 4,118 | 25.8% | $236,067 | $214,740 | 9.9% |
PulteGroup | 3,926 | 3,084 | 27.3% | 5,154 | 4,303 | 19.8% | $287,000 | $271,000 | 5.9% |
NVR | 2,625 | 2,158 | 21.6% | 2,788 | 2,391 | 16.6% | $331,900 | $304,600 | 9.0% |
The Ryland Group | 1,502 | 915 | 64.2% | 1,578 | 1,040 | 51.7% | $270,000 | $254,000 | 6.3% |
Standard Pacific | 983 | 615 | 59.8% | 973 | 782 | 24.4% | $388,000 | $374,000 | 3.7% |
Meritage Homes | 1,094 | 749 | 46.1% | 1,240 | 894 | 38.7% | $294,000 | $275,000 | 6.9% |
MDC Holdings | 869 | 523 | 66.2% | 1,221 | 792 | 54.2% | $318,700 | $291,300 | 9.4% |
M/I Homes | 673 | 505 | 33.3% | 887 | 667 | 33.0% | $273,000 | $257,000 | 6.2% |
Total | 16,931 | 12,343 | 37.2% | 19,023 | 14,987 | 26.9% | $285,300 | $265,785 | 7.3% |