Cabinetry, flooring, windows and doors are in demand as home builders' business blossom. D.R. Horton and Beazer Homes posted bigger sales, and stocks are on the rise for the nine largest home builders.
D.R. Horton Inc., the nation's largest homebuilder, reported a $100 million profit for its fourth quarter ended Sept. 30, almost triple the 2011 period.
Horton's net sales orders for the fourth quarter increased 24% to 5,276 homes and the value of net sales orders increased 35% to $1.3 billion from $0.9 billion.
For the year, Horton's home sales increased 21% to 21,048 and net sales orders increased 29% to $4.8 billion, up $1.1 billion.
"We are positioned for a strong start to fiscal 2013, with our highest year-end backlog since fiscal 200," said Donald Horton, chairman. Horton, which acquired homebuilding assets of Breland Homes during the quarter, says it now has 13,000 homes in inventory and 60,000 finished lots under its control.
Horton's sales order backlog of homes under contract at September 30, 2012 increased 49% to 7,240 homes from 4,854 homes at September 30, 2011. The value of the backlog increased 61% to $1.7 billion at September 30, 2012 from $1.0 billion a year ago.
Beazer Homes, which partners with Armstrong for flooring, reported $370.9 million in revenue, an 11% rise for the quarter ended Sept. 30. Though a debt paydown resulted in a loss for th period, Beazer reported sale closings of 17% and new orders for homes rose 10%.
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