Meritage: “Strong Demand For Entry Level Homes” Drives New Orders Increase
Meritage Homes reported first quarter sales yesterday, and the publicly traded home builder admitted what many, including myself, have been saying. New home prices have eclipsed the threshold of what most Americans can afford (or are willing) to pay. Meritage saw a 2 percent increase in closed sales for the quarter on average new home prices that were up by just 1 percent. New orders grew 10 percent compared to the same quarter last year on average sales prices that were 2 percent lower. This is the dilemma now facing most new home builders with [...]