Irvine Pacific LP, among Orange County’s most active homebuilder for nearly a decade and the in-house homebuilding arm of Newport Beach’s Irvine Co., only has a few more projects left to sell on the Irvine Ranch, at a quartet of sites at Orchard Hills and Portola Springs.
Home sales slow in 2022 due to market uncertainty, but homebuilders are optimistic of a rebound in 2023 as interest rates lower. Homebuilders in Orange County sold 2,991 homes in 2022, compared to 3,677 in 2021.
FivePoint plans it's first major retail project in Irvine, alongside growth in other neighborhoods like Solis Park, as demand increases for home buyers
Spotlight: Donald Bren - Orange County Business Journal ocbj.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ocbj.com Daily Mail and Mail on Sunday newspapers.
The New Home Company Reports 2021 first Quarter Results streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
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The New Home Company Inc. (NYSE: NWHM) today announced results for the 2020 fourth quarter and full year.
Fourth Quarter 2020 Financial Results
Net orders up 89%, monthly sales absorption rate increased 68% to 3.7 compared to 2.2 in the prior year
Unit backlog up 175%, dollar value of homes in backlog increased 88% compared to last year to $236.0 million
Total revenues of $145.6 million and home sales revenue of $135.4 million
Homebuilding gross margin of 14.8% compared to 7.8% in the prior year, including impairments in prior year
Adjusted gross margin excluding interest in cost of sales and impairments improved 260 basis points to 19.4%* compared to 16.8%* in the prior year