Tuesday, January 07, 2003 8:18:27 AM
BZH new home orders down 1.2% in December from a year ago. Looking at numbers for the quarter it appears that new orders dropped off quickly. With RYL warning for 1Q, KBH saying they will no longer report monthly new orders and now BZH showing a slowdown, we appear to be seeing a few cracks in this industry. Also, new purchase mortgage apps are trending lower although interest rates are at record lows.
For the Month Ended December 31,
2002 2001 Change
Southeast 282 307 -8.1%
West 227 299 -24.1%
Central 53 89 -40.4%
Mid-Atlantic 160 128 25.0%
Midwest 91 0 n/a
Total 813 823 -1.2%
New Orders (Units For the Quarter Ended December 31,
2002 2001 Change %
Southeast 1,015 953 6.5%
West 939 973 -3.5%
Central 232 232 0.0%
Mid-Atlantic 452 352 28.4%
Midwest 503 0 n/a
Total 3,141 2,510 25.1%
Joe
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