NVR Offers New Condominium Models

One of the leading home building and mortgage banking companies in the United States, NVR, Inc (NVR - Snapshot Report) unveiled the new Matisse/ Rubens condominium model homes in Chantilly, Virginia. The townhomes are located at Arcola Center, one of the latest town center communities in North Virginia. Home prices start from $240,000 onward.

The lower unit of these unique combination townhomes is called Matisse. Matisse homes offer ample living space and a dining room with optional fireplace and an entertainment bay. The dining room has an adjoining kitchen and a ½ bath. The laundry room is located at the second level. The master bedroom has dual vanities and a Roman shower. Matisse offers 3 bedrooms, 2 baths and 1 attached car garage. The owner will get the option to choose from 2 extra bedrooms or convert the third bedroom into a family room.

Located above the Matisse, Rubens offers single floor living. The living space leads to the dining area with the kitchen separated by a bar. The laundry room with stacking washer/dryer and an optional laundry tub is conveniently located to the left. The hall accommodates a spacious bedroom and master bedroom. The owner’s bedroom comprises a 5 feet shower and double bowl vanity. Rubens also accommodates 1 attached car garage and rear deck.

Matisse/ Rubens condominium model homes come with a 10 year structural warranty and are ENERGY STAR certified. The residents can therefore save up to 30% on monthly utility bills. The residents can enjoy the facilities of a lake, dog park, pool, restaurants and trails for biking, walking, running and other activities.

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 upward. Therefore adequate product introduction is necessary in order to maintain the required level of inventory to meet the growing demand for homes.

We like the company’s initiative to constantly introduce new products. With frequent introduction of products, NVR will be able to capitalize on the improving markets.

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 showing slow growth trajectory.

A peer of PulteGroup Inc. (PHM - Analyst Report), NVR Inc. carries a Zacks #3 Rank that translates into a short-term ‘Hold’ rating. Longer-term, we are maintaining our Neutral recommendation on NVR Inc.