Calculated Risk: New Home Inventory and Cancellations
5/6/2008 11:15:39 PM
Inventory numbers from the Census Bureau do not include cancellations - and although cancellation rates are still above normal, the rate has declined from the record levels of last year.
As examples, D.R. Horton reported a cancellation rate of 33% for the most recent quarter, down from 48% in the Fall of 2007. And Centex reported a cancellation rate of 29%, below the mid-30s of 2007.
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Homebuilder Performance and Revenue Matrix
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Walls closing in on Dunmore home-building dynasty
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Homebuilder Blues: NAHB/Wells Fargo Home Builder Ratings April 2008
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Home builder D.R. Horton posts $1.31 billion loss on huge writedowns
Brookfield Homes reports Q1 net loss of $12 million
Pulte 1Q loss widens on hefty inventory, land charges (AP)
