Home builders: Cancellation orders
the supposed modest increase in new home sales, for example, is that the Census Bureau does not adjust for cancellations in its compilation of house sales, which in a soft market like this one not only overstates sales, but understates inventory.
Usually, cancellations run only about 15% of orders for publicly owned home builders. However, cancellations have soared this year. And Doug thoughtfully sent along the third-quarter rate for each of the leading home builders. Here they are: Centex (ticker: CTX), 37%; DR Horton (DHI), 40%; KB Home (KBH), 53%; Lennar (LEN), 31%; Pulte Homes (PHM), 36%; Beazer (BZH), 57%; Hovnanian (HOV), 35%; MDC Holdings (MDC), 49%; and Standard Pacific (SPF), 50%.
Source: Barrons
posted by Dr. Jeff Lazarus MD at 12:08 AM
1 Comments:
great photo, nice girl.
on the other hand, in Santa Clara County, prices for single family homes are still increasing. All that bubble talk is really interesting and very thoughtful. It's just not happening. What are you bubble bloggers going to do if this is continuing?
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