), a major home building and mortgage banking company, is geared
to expand in Raleigh, NC, and announced that it will build luxury
homes in the Triangle Area of the region.
The Reston, VA-based homebuilder plans to start with the two
communities of Saxonbury in West Cary and Westfall in Chapel Hill
in North Carolina.
The homes in the Saxonbury community will enjoy the natural
beauty of the wooded environment as well as an easy access to the
Wake County schools, the Research Triangle Park, renowned
shopping and entertainment centers, and the Raleigh-Durham
International Airport. The four bedrooms and four bath homes will
also include NVR's Signature Gourmet Kitchens, morning rooms,
owner's suites and bonus rooms.
The Westfall community homes, on the other hand, will be in
close proximity to the downtown Chapel Hill and the Research
Triangle Park, University of North Carolina and its renowned
medical system. These homes promise a resort-style swim pool, a
tot lot, a dog park and a large multipurpose field, designed for
lacrosse and soccer games.
Like all NVR Homes, the upcoming ones at North Carolina are
ENERGY STAR certified and carry 10 years' structural warranty.
The residents can, therefore, save up to 30% on monthly utility
bills compared with other standard homes.
We like NVR's initiative to constantly introduce new products
to capitalize on the improving housing market. However, we would
prefer to stay on the sidelines as the housing market is still in
the recovery stage and the rest of the macroeconomic parameters
are on a slow growth trajectory. Currently, NVR carries a Zacks
Rank #3 (Hold).
Other stocks in the homebuilding sector that are performing
well and deserve a mention include
Hovnanian Enterprises Inc.
The Ryland Group Inc.
Meritage Homes Corp
). All of these stocks carry a Zacks Rank #2 (Buy).
HOVNANIAN ENTRP (HOV): Free Stock Analysis
MERITAGE HOMES (MTH): Free Stock Analysis
NVR INC (NVR): Free Stock Analysis Report
RYLAND GRP INC (RYL): Free Stock Analysis
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