Ryan Homes recently expanded its footprint to inlude the Columbus, Ohio, market. According to Columbus Business First, the company, a subsidiary of Virginia-based NVR, picked up 139 lots in three communities from Beazer Homes USA; the purchase price was approximately $2.8 million.
The deal marked Ryan's re-emergence on the scene in the nation's 42nd largest building market, according to Hanley Wood Market Intelligence. Although the company has historical ties to the area, Ryan no doubt will face some steep competition from hometown hottie M/I Homes. M/I, which also conducts business in the area as Showcase Homes, controlled 16.2% of the market in 2007, a market share nearly double that of its next strongest competitor, Dominion Homes. Beazer had a 3.6% market share last year, with 228 closings.
The decision to leave Ohio came less than a month after Centex Corp. sold more than 280 developed and undeveloped lots to Kentucky-based Fischer Homes as part of its exit strategy for Central Ohio. The company started winding down local operations in May 2007.