Industry News

U.S. homebuilder posts third-quarter gains

New-home orders up 15% from a year earlier

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Standard Pacific Corp., a major U.S. homebuilder, announced that its third-quarter home new-home orders were up 15 percent over the third quarter of last year. Total preliminary new-home orders for the third quarter reached 2,474 this year, compared with 2,148 in the third quarter of 2003. In Northern California, new-home orders continued to reflect healthy demand for new housing and were up slightly over the year earlier period on the same number of active selling communities. The Northern California total for the 2004 third quarter includes 89 orders from four communities from its new Sacramento division. In Southern California, net new-home orders were down 12 percent for the quarter, mostly because of slower sales in Orange County, while there was more activity in the Inland Empire, San Diego and Ventura divisions, Standard Pacific reported. Total preliminary new-home orders in the third quarter dropped from 810 in the third quarter of last year to 761 this year in California, ...