Fourth quarter and full-year (calendar 2015) data is coming in on public home builders as part of the current corporate earnings season, and from the looks of seven of the 22 or so publics, the last three months of 2015 were nothing to be discouraged about.
Housing economist Tom Lawler posts on Calculated Risk that combined net home orders for these seven home builders last quarter were up 11.7% from the comparable quarter of 2014, while home deliveries were up 6.3% YOY. Lawler writes:
D.R. Horton reported that net orders for its “Express” brand, targeted for the “entry-level” home buyer, represented 25% of its total orders (in units) last quarter, compared to 13% in the comparable quarter of 2014, while the Express share of deliveries increased to 22% from 10%. The average selling price for Express deliveries last quarter was $199,400, compared to $168,900 a year earlier. A major reason for the sharp jump in the average Express selling price was an increase in the share of deliveries in higher-priced markets (including California).