One of the leading home building and mortgage banking companies in the United States, NVR, Inc. (NVR - Snapshot Report) unveiled its new single-family home models at Capri Isle in Tampa, Fla. under NVR’s Ryan Homes division.
Capri Isle homes are located at Cory Lakes, which is famous for its scenic beauty. The Cory Lakes community offers a fully equipped beach club with volleyball, tennis courts, boat docks and canoeing facilities for its residents to relax and enjoy. It also has a playground, fitness center and scenic walking trails. The residents can also spend time at Flatwoods and Morris Bridge recreation areas, which include fishing, boat launches and picnic areas.
Homes at Capri Isle are available with up to 6 bedrooms and 4 ½ bathrooms and a standard two-car or three-car garage. Each home model offers spacious family rooms, with sliding glass doors. These model homes have a large kitchen with a separate space for small casual meals or homework. It has a big living room, an attached study, two bedrooms, a luxurious owner's suite with a private bath and two walk-in closets. Other than this, it has a laundry room, a loft and an extra room that can be used as an entertainment center or gathering room.
Like all Ryan Homes, the Capri Isle homes 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.
The rising demand for new homes has led to a favorable situation in the housing market, where inventory levels are dropping and prices are moving up. The demand is particularly high for luxury homes. Therefore adequate product introduction is necessary in order to maintain the required level of inventory to meet the growing demand for homes.
We like NVR’s initiative to constantly introduce new products. With frequent introduction of products, NVR will be able 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 D R Horton Inc (DHI - Analyst Report), The Ryland Group Inc. and Meritage Homes Corp (MTH - Snapshot Report), all of them carrying a Zacks Rank #1 (Strong Buy).