Good Homes Sales News
February 22, 2012 by admin
Filed under Positive Real Estate
Housing sales of previously occupied homes rose in January to the highest rate in nearly 2 years. Causing many experts to speculate that the worst is behind us. Many of these experts believe housing will finally might
add to GDP for the first time in 7 years.
Beazer Homes USA Inc. (BZH) reported that orders jumped 36 percent in the final three months of 2011 from a year earlier, and closings on new houses surged more than 60 percent. The Atlanta-based builder said it expects to sell more properties this year than last.
“While our visibility into the economic conditions for the remainder of the year is limited, I believe that we will benefit from a gradually improving housing market,” Allan Merrill, chief executive officer, said on anearnings call on Feb. 2.
Luxury-home builder Toll Brothers has increased sales impressively since the start of October .
At its peak in April 2006, Toll “controlled” 92,000 building lots—a figure that has dropped to 37,500. But most of its units in 2006 represented only options. Nowadays, it owns 30,200 outright, equal to about three-quarters of the owned lots at the boom’s height, generally at more attractive values as a result of bargains or write-downs. Those write-downs have continued to depress margins and earnings, making Toll look more expensive than it may be.
Purchases rose in all four U.S. regions, led by an 8.8 percent gain in the West and a 3.5 percent increase in the South. 
Inventories are the lowest in years as the number of previously owned homes on the market dropped to 2.31 million, the fewest since March 2005. At this sales rate, it would take 6.1 months to sell those houses, the lowest since April 2006.
Related articles
- Homebuilders see stable housing market ahead (seattletimes.nwsource.com)
- Beazer Homes USA Posts a Surprise Profit (fool.com)
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