Wednesday, April 18, 2012

Local Home Builder: "Spring selling season is off to a great start"

by Bill McBride on 4/18/2012 02:19:00 PM

From Jon Lansner at the O.C. Register: O.C. builder Lyon Homes orders soar 89

Builder William Lyon Homes of Newport Beach says it's had a quick business revival as it exited bankruptcy.

Highlights for Lyon — building in California, Nevada and Arizona — for the three months ended March 31:
• New home orders: 321, up 89% vs. a year ago and first 300-plus orders since 2008′s 2nd quarter. (Southern California sales were up 20%.)

• Homes closed: 128, up 15% vs. a year ago.

• Cancellation rate: 9% vs. 15% vs. a year ago.
CEO Gen. William Lyon: "The spring selling season is off to a great start."
William Lyon Homes filed for bankruptcy last November, and emerged from bankruptcy in February.

Note that Lyon builds in California, Arizona and Nevada - all hard hit states.

We've been seeing similar comments from other home builders, but this hasn't shown up yet in the Census Bureau's monthly new home sales report.