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NVR Second Quarter reports mixed signals and a glimmer of hope

July 24, 2009

Analysis of:NVR new home orders gain, profits fall | washington.bizjournals.com

Homebuilder NVR(NYSE:NVR) reports that its profit for the 2nd quarter fell 19% compared to a year ago and the average price of a new home order is down 7%. Profits and prices are down but net sales eked out a slight increase of 2% year over year in housing orders to built new homes. The news is mixed which actually may be signaling that the new homes market is transitioning from decline to flat.

Sales Activity in 2007 favors NVR

June 15, 2007

Analysis of:NVR Seeks to Weather Downturn By Stockpiling Options to Build | www.washingtonpost.com

There is no doubt that homebuilding is well off its peak building year of 2005; however, smart builders such as NVR are well positioned to take advantage of opportunties that do exist in this current market to build market share. NVR's strategy of lot options allows a more flexible business plan that can reduce short term losses and enhance profits in the long term.

Building Permits Continue to Fall in Washington DC Metro

April 30, 2007

Analysis of:Home builder NVR's net falls 36% | www.marketwatch.com

Building permits can be a surrogate for future closed residential new home sales and potential profitability. In markets such as Loudoun County, Virginia where NVR is a major builder, year to year building permits for Single Family homes continue to fall. 2007 may prove to be an even weaker year for profits for homebuilders; only time will tell.

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