Ryan Homes, a division of NVR, Inc. (NVR), announced the opening of a new community called the Lucaya Lake Club in Riverview, Florida. The premier lakeside homes are priced from $200,000 onward.
People present on the occasion were offered a tour of the four model homes – The Sawgrass, The Sandpiper Point, The Estero Bay and The Seagate. Residents will have easy access to MacDill Air Force Base, golf courses, entertainment centers and the Busch Gardens theme park. It is also located in close proximity to employment centers in Tampa, Brandon and other nearby regions.
Like all new NVR homes, the Lucaya Lake Club homes carry a 10-year structural warranty. The introduction of new NVR homes is in sync with improving macroeconomic trends. The housing sector has started gathering steam in the second half of 2014 as buyers are back in the market with improvement in both the economy and employment. The still-low interest/mortgage rate acts as a further stimulus for homebuyers in spite of the Fed scaling back its bond buying program. Though mortgage rates are higher than the average rate in 2013, they are still below historical levels, making housing affordable.
Moreover, though home prices have been rising in 2014, the rates have moderated since the last year. The rising inventory, low mortgage rates and moderating home prices are expected to give homebuyers the much needed confidence, paving the way for higher demand in the remainder of the year. NVR is adding to its collection of new homes in order to meet increasing housing demand.
NVR carries a Zacks Rank #2 (Buy).
Other Stocks to Consider
Investors interested in the building and related sector can also stocks like Hovnanian Enterprises Inc. (HOV), Lennar Corp. (LEN) and Beazer Homes USA Inc. (BZH). While Hovnanian Enterprises sports a Zacks Rank #1 (Strong Buy), Lennar Corp and Beazer Homes carry a Zacks Rank #2.
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