The (mostly) California homebuilder reported new home orders of 138, up from 123 a year ago. Backlogs of 195 gained 36%, with dollar value of backlogs up 100% to $157.7M. The average sales price in backlog increased 50% to $809K.
New home deliveries of 92 up 92%. Average sales price of home delivered up 59% to $791K.
Homebuilding gross margin of 22.5% grew 400 basis points.
Acquired 319 lots valued at $30.5M (116 of them in Colorado). Company now owns or controls 3,472 lots - 1,768 in SoCal, 1,133 in NoCal, 571 in Colorado.
CC at 10 ET
TPH no trades premarket