The Archives

08.18.08

Ryland posts larger-than-expected loss Current Events, Home Prices, Homebuilders, Housing Starts | (0)
From Reuters: Ryland Group Inc (RYL.N: Quote, Profile, Research) posted a deeper quarterly loss that badly missed analyst estimates on Wednesday, citing write-offs, impairments and a charge, and its shares fell more than 6 percent. The second-quarter net loss widened to $241.6 million, or $5.70 per share, from $52.4 million, or $1.25 per share, a year earlier, missing the average analyst estimate for a loss of 85 cents per share. Home-building revenue for Ryland, the No. 9 U.S. home builder, fell 35 percent to $472.3 million, as closings dropped 26 percent to 1,828 homes and the average selling price declined 13 percent to ...
08.18.08

Housing market weakens again Existing Home Sales, Home Prices, Meltdown | (0)
From CNN: Sales of existing homes slowed more than expected in June while inventory increased, according to an industry trade group reading of the sluggish housing market released Thursday. The National Association of Realtors reported that sales by homeowners dipped in June to an annual pace of 4.86 million, down 2.6% from a pace of 4.99 million in May. The existing home sales rate - including single-family, townhomes, condominiums and co-ops - was 15.5% below the 5.75 million units sold in June 2007. The 4.86 million sales figure came in well below the 4.95 million estimate forecast by economists surveyed by Briefing.com. The median price ...