CALABASAS, CA -- Homebuilder Ryland this week reported a consolidated loss of $29.3 million in its first quarter, on sales of $399.6 million. The performance was better than some housing sector analysts had predicted.
The company said closings during the period fell 33 percent, to 1,543 units. It also reported a 13.8 percent decrease in the average closing price of a home, which dropped to $257,000 for the quarter ended March 31, 2008, from $298,000 for the quarter ended March 31, 2007.
New orders of 2,159 units for the quarter ended March 31, 2008, represented a decrease of 27.8 percent, compared to new orders of 2,989 units for the same period in 2007.
For more information, visit: www.ryland.com
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