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Homebuilders: Go West for the Good Buys

The nation's house builders are making money out West

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Las Vegas

LasVegasThis was the top housing market in the U.S. in July, up 27.5% year-over-year.

According to Trulia (TRLA), the top homebuilder in Vegas based on new home sales in 2012 was Richmond American Homes, the operating subsidiary of M.D.C. Holdings (MDC), the nation’s 13th largest builder by revenue. Based in Denver, the company generates about 77% of its homebuilding revenue in Colorado and westward. In the six months ended June 30, it delivered 294 new homes, an increase of 13% over the same period in 2012. Thanks to a 32% increase in the average price, it was able to grow revenues by 49%.

Other big homebuilders in the area include D.R. Horton (DHI), KB Homes (KBH) and Lennar Homes (LEN).

Article printed from InvestorPlace Media,

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