Home building and mortgage banking company NVR, Inc. (NVR) has unveiled its new series of luxury homes in Withrow Downs under its Ryan Homes division.
The community has 25 new home sites which provide proximity to some of North Carolina's top universities. The locality also provides a neighborhood clubhouse with an outdoor entertainment area and inviting swimming pool nearby.
The homes are divided into three levels: the upper, the middle and the lower levels. They have a covered entry and comprise a formal living room, a dining room, a kitchen with a pantry, counter space, a dinette and an optional center island, a family room and an optional fireplace. The upper level has four bedrooms and a unique 23-foot owner’s suite. The lower level has an exercise room and a media room.
The Ryan Homes are ENERGY STAR certified and carry 10 years’ structural warranty. The residents therefore, save up to 30% on monthly utility bills compared with other standard homes.
The rising demand for new homes has led to a favorable situation in the housing market, where inventory levels are dropping and prices are moving up. The demand is particularly high for luxury homes. Therefore, adequate product introduction is necessary in order to meet the growing demand.
We like NVR’s initiative to constantly introduce new products. With frequent introduction of products, the company will be able to capitalize on the improving housing market. However, we would prefer to stay on the sidelines as the housing market is still in the recovery stage and the rest of the macroeconomic parameters are on a slow growth trajectory. Currently, shares of NVR carry a Zacks Rank #4 (Sell).
Other stocks in the homebuilding sector that are performing well and deserve a mention include D R Horton Inc (DHI), The Ryland Group Inc. (RYL) and Meritage Homes Corp (MTH), all carrying a Zacks Rank #1 (Strong Buy).
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