Dan Ryan Builders, the Frederick, Md.-based No. 65 home builder on the Builder 100 list, has opened up operations in its sixth state, North Carolina, with a new division in Raleigh, the South Atlantic Region's 13th best home building market.
CEO Dan Ryan said the company has budgeted plans for 22 home sales in calendar year 2010, about 5% of the 20-year-old company's total sales. This past year, Ryan said his company toughed out closings flat year on year with 2008, and his best performing divisions were Charleston, S.C., and Morgantown, W.Va.
The move into Raleigh, whose single-family permits peaked in 2006 at more than 13,000 and last year did 3,300-plus through the first nine months, according to Hanley Wood Market Intelligence, gives Dan Ryan Builders a beachhead in a new, relatively active market, but with a twist.
In August, Ryan hired as vice president and COO Ronny Salameh, who most recently served as Centex North Carolina division president, overseeing operations in Charlotte and Raleigh.
"Ronny helped us pick up lots he'd had his eye on when he was with Centex,"said Ryan. "This gives us local knowledge, and we're ready to go into this market and make some fast headway."
Ryan said he expects the home buyer tax credit will make a big difference through the first half of 2010, but after the expiration of the credit for sales April 30 and closings June 30, market conditions will get more challenging. Still, he predicts Dan Ryan Builders will do slightly better in 2010 than this past year.
Learn more about markets featured in this article: Raleigh, NC.