M.D.C. Holdings, Inc. (NYSE: MDC), parent of Richmond American Homes, on Monday reported selected preliminary results for the 2019 fourth quarter.
Among the results reported:
- New home deliveries increased 31% to 2,389 from 1,827
- Average sales price of approximately $450,000
- Net new home orders increased 49% to 1,574 from 1,059
- Monthly sales absorption pace increased 28% to 2.8
- Homes in backlog increased 29% to 3,801 from 2,936
- Dollar value of backlog increased 23% to $1.75 billion
- MDC will release its 2019 fourth quarter earnings before the market opens on Thursday, January 30.
