One of the leading home building and mortgage banking companies in the United States, NVR, Inc. (NVR - Snapshot Report) unveiled its Fairchild single-family model homes at The Woods at Mansion Road in Yorktown, Va. under NVR’s Ryan Homes division.
The Woods at Mansion Road community offers estate-style model homes with up to 6 bedrooms and 3 1/2 baths on 3 levels and up to 4,500 square feet of living space. The community also offers winding walking trails, playgrounds, parks and soccer fields. A protected forest conservation area is also close by, adding to the attraction of the homes.
The luxurious Fairchild model offers 4 large bedrooms and 2 1/2 baths. These model homes have a formal living room, dining room and a center island kitchen. The luxurious owner's suite has two walk-in closets with a private bath. Other than this, it offers a laundry room, basement, granite countertops and stainless steel appliances.
Like all Ryan Homes, the homes at The Woods at Mansion Road 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 Taylor Morrison Home Corp (TMHC - Snapshot Report), all of them carrying a Zacks Rank #1 (Strong Buy).