Lawler: Selected Operating Results, Large Home Builders; Cancellation Rates Increasing Sharply

Today, in the Calculated Risk Real Estate Newsletter: Lawler: Selected Operating Results, Large Home Builders

Excerpt: Below are some selected operating results from some large home builders for last quarter. Note that the sales cancellations number are derived from reported sales cancellations rates and may be off by a bit due to rounding.

Deliveries and Average Sales Price
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One of the more striking statistics on orders and cancellations was from MDC Holdings, where gross orders totaled 1,569 while sales cancellations totaled 1,270!!!!  And in its “Mountain” division (Colorado, Idaho, and Utah), net orders were NEGATIVE 3 homes!