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A blog about the economy and the Sacramento-area real estate market.

April 3, 2008
Centex dominating during slow home building start for 2008

The newest monthly home building numbers are in from Costa Mesa-based Hanley Wood Market Intelligence - and they show Centex Homes running away with the new-home market so far this year in the six-county Sacramento region.

First off, these are numbers from El Dorado, Placer, Sacramento, Sutter, Yolo and Yuba counties.

Publicly-traded Centex reports 140 sales in January and February, a 17.5 percent market share. Others in the Top 5 are:
- Atlanta-based Beazer Homes, with 74 sales and 9.3 percent market share.
-Michigan-based Pulte Homes and its Del Webb affiliate, with 73 sales and 9.1 percent market share.
- Miami-based Lennar Homes with 52 sales and 6.5 percent market share.
- Fort Worth-based D.R. Horton, with 43 sales and 5.4 percent market share.

The top 10 also includes Los Angeles-based KB Home, privately-owned Roseville homebuilder JMC Homes, New Jersey-based K. Hovnanian Homes, Salt Lake City-based Woodside Homes and Newport-Beach based John Laing Homes.

Hanley Wood analyst Kathryn Boyce, based in Sacramento, said Centex is still offering lots of financial incentives to buyers and keeping prices down. Said Boyce: They are doing a lot of different things to be able to bring their market share higher. Whether they are making money is another story.

All told, Hanley Wood tallied a slow start for homebuilders in 2008: 798 new-home sales in the six-county Sacramento region during January and February. That is down 57.7 percent from 1,885 sales the same time last year.

Specific sales figures, according to the consulting firm:
Single-family homes, 707 sales, down 54.2 percent from last year.
Townhouses and duplexes, 51 sales, down 44.6 percent from last year.
Condominiums, 40 sales, down 84 percent from last year.

Image courtesy of Energystar.gov

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