by Bill McBride on 4/18/2012 02:19:00 PM
Wednesday, April 18, 2012
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.William Lyon Homes filed for bankruptcy last November, and emerged from bankruptcy in February.
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%.)CEO Gen. William Lyon: "The spring selling season is off to a great start."
• Homes closed: 128, up 15% vs. a year ago.
• Cancellation rate: 9% vs. 15% vs. a year ago.
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.
Posted by Bill McBride on 4/18/2012 02:19:00 PM