Tuesday, January 13, 2009

Beazer Homes: Sales Off more than 50%

by Calculated Risk on 1/13/2009 10:27:00 AM

From Beazer Homes press release:

Home closings for the quarter ended December 31, 2008 totaled 938, a 53.2% decline from 2,006 homes closed during the same period in the prior fiscal year. Net new home orders totaled 551 for the quarter, a decrease of 56.0% from 1,252 net orders in the first quarter of the prior fiscal year. ... The cancellation rate for the first quarter was 45.6%, compared to 46.6% for the same period in the prior year.
It just keeps getting worse ...