Industry News

Real estate developer sees rise in first-quarter revenue

Backlog of homes builds up in West
Published on May 27, 2004

Beazer Homes, a home-building company with operations in 19 states, announced in its latest quarterly financial statement that home-building revenue was up about 30.1 percent in the three months ending March 31 compared with the same period last year. And for the six-month period ending March 31, home-building revenue was up 22.2 percent over that period in 2003. Average sales price per home closed was up most dramatically in the West region, with home prices up 17.2 percent in the first three months of this year compared with the same period last year, from $237,800 in 2003 to $278,600 in 2004. Average sales prices in the Mid-Atlantic region, by contrast, declined about 0.2 percent in the six-month period ending March 31 compared with the same period last year, from $331,000 to $330,200. The number of new orders (net of cancellations) dropped 18.8 percent in the Mid-Atlantic region and 14.2 percent in the Midwest region in the first three months of 2004 compared with the first thr...

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