The housing market is expected to witness a multi-year slow-but-steady recovery on the back of higher job numbers, a recovering economy, moderating home price gains, affordable interest/mortgage rates, rising rentals and a limited supply of inventory. As such, homebuilders like Lennar Corp. LEN , KB Home KBH and Ryland Group Inc.RYL continue to increase their community count in order to prepare for an expected increase in housing demand.
In order to keep with the trend, Ryland Group recently introduced a new community of single-family homes, Cromwell Ridge, in Parkville, MD. With prices starting from $400s, Cromwell Ridge homes are located close to the Towson Town Center, Inner Harbor and White Marsh Mall.
The Cromwell Ridge community offers 31 single-family home designs. These homes accommodate ample living space, four bedrooms, three and a half baths and two car garages. They also include large kitchen islands, granite counter tops, stainless steel appliances, maple cabinetry and laundry rooms.
All Ryland homes feature the HouseWorks program, which incorporates energy-efficient features like low-E window, energy-star appliances and low VOC paint among others.
Earlier this week, The Ryland Group unveiled a new model home, Vanderbilt, in the gated community of ManorView in Milton City, Atlanta, GA. Such a consistent trend of opening of new communities will increase the homebuilder's ability to meet the increasing housing demand.
The Ryland Group has made quite a few headlines recently. In mid-Jun 2015, the company signed a definitive merger agreement with California-based homebuilder Standard Pacific Corp. SPF to create the fourth-largest homebuilding company with a market capitalization of about $5.2 billion.
Consolidation of the two homebuilding companies is expected to close by early fall 2015, subject to necessary approvals and regulations. The company will enjoy extensive geographic and product diversification, with operations spread across 41 markets in 17 states of the U.S.
Ryland Group currently carries a Zacks Rank #3 (Hold).