With no comment, William Lyon Homes released its preliminary first quarter financial results Friday, April 10, and its numbers indicate a spring selling season that has so far showed scant activity for the firm.
The Newport Beach, Ca.-based builder, which also builds in Arizona and Nevada, reported 188 homes sold in the first quarter of ’09, 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 ‘08’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.
Learn more about markets featured in this article: Los Angeles, CA.
