With no comment, William Lyon Homes released its preliminary first-quarter operational results April 10, and the numbers show a scant spring selling season.
The Newport Beach, Calif.-based builder, which also builds in Arizona and Nevada, reported 188 homes sold in the first quarter of 2009, a 38% drop from the 303 it sold in the same quarter last year.
New home orders fell by more than half, to 182 from 371 in 2008’s first quarter. Backlog of homes sold but not closed was down 33%, 234 versus 347 on March 31, 2008.
The company’s sales locations also decreased to meet the market, down 48% from 56 to 29.