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Real Estate News Releases
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(EMAILWIRE.COM, August 28, 2009 ) DALLAS - StockPreacher.com announces an investment report featuring Standard Pacific Corp. (NYSE: SPF).
The investment report on Standard Pacific Corp. (NYSE: SPF) should be of particular interest to other real estate companies: California Coastal Communities Inc. (Nasdaq: CALC), NCI Building Systems Inc. (NYSE: NCS), Pulte Homes Inc. (NYSE: PHM) and D.R. Horton Inc. (NYSE: DHI).
It is available at: SPF'>http://www.stockpreacher.com/n/SPF
Standard Pacific Corp. (SPF) is a real estate development and financing company. It constructs and sells single-family attached and detached residential homes. The Company constructs homes of varying price and size, thereby targeting a broad customer base. It has developed more than 106,000 homes since its inception. SPF has operations in metropolitan areas in California, Texas, Arizona, Colorado, Florida, the Carolinas and Nevada.
In the report, the analyst notes:
“SPF’s operations continue to be impacted by weak housing demand in substantially all of the major housing markets across the country driven by a housing supply/demand imbalance, record foreclosures, declining home prices, low consumer confidence and rising unemployment. During the second quarter of 2009, the Company’s consolidated average home price decreased 8% to $302,000 as compared to $327,000 for the year earlier period. According to the U.S. Department of Commerce, April-June median home price was $214,100 and average home price was $274,200.
“Net new orders (excluding joint ventures and discontinued operations) for the 2009 second quarter decreased 6% from the 2008 second quarter to 1,169 new homes on a 29% decrease in the number of average active selling communities from the prior year period. The Company's cancellation rate for the three months ended June 30, 2009, was 16%, down from 24% for the 2009 first quarter and 25% for the 2008 second quarter. SPF’s sales absorption rate for the 2009 second quarter was 2.7 per month per community, up from the prior year second-quarter rate of 2.0 per month per community, and up from 1.5 per month per community for the 2009 first quarter.”
To read the entire report visit: http://www.stockpreacher.com/n/SPF
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StockPreacher.com is a small-cap research and investment commentary provider. StockPreacher.com strives to provide a balanced view of many promising small-cap companies that would otherwise fall under the radar of the typical Wall Street investor. We provide investors with an excellent first step in their research and due diligence by providing daily trading ideas, and consolidating the public information available on them. For more information on StockPreacher, please visit: http://www.stockpreacher.com
StockPreacher.com Disclosure
StockPreacher.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. StockPreacher.com is a Web site wholly-owned by BlueWave Advisors, LLC. Please read our report and visit our Web site, StockPreacher.com, for complete risks and disclosures.
StockPreacher.com
Jeff Bishop, (469)-252-3505
press@beaconequity.com
StockPreacher
Jeff Bishop
(469)-252-3505
press@beaconequity.com
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