Tuesday, April 21, 2015

Lawler: NVR: Home Orders Jump, Prices “Stable” in Latest Quarter

by Bill McBride on 4/21/2015 12:59:00 PM

From housing economist Tom Lawler:

NVR, Inc., the nation’s fourth largest home builder with a relatively heavy concentration in the Mid-Atlantic region, reported that net home orders in the quarter ended March 31, 2015 totaled 3,926, up 18.1% from the comparable quarter of 2014. The average net order price last quarter was $375,400, up 2.0% from a year ago. Net orders per active community were up 19.8% YOY. Home deliveries last quarter totaled 2,534, up 14.6% from the comparable quarter of 2014, at an average sales price of $371,000, up 2.7% from a year ago. The company’s order backlog at the end of March was 6,867, up 13.5% from last March, at an average order price of $384,300, up 2.6% from a year ago. The company’s gross homebuilding margin last quarter was 17%, compared to 18% in the comparable quarter of 2014.

NVR gives virtually no “color” on its results or on the housing market in its press release, and does not host a quarterly earnings conference call.

NVR Orders

D.R. Horton, the nation’s largest home builder, releases its results for the quarter ended March 31st tomorrow morning before the market opens.