One of the leading home building and mortgage banking companies in the United States, NVR, Inc (NVR - Free Report) unveiled the new Courtland Gate single family model home in Mason, Ohio. Home prices start from $240,000 onward.
The Courtland Gate homes come with facilities such as a golf course, swimming pool, clubhouse, community play area, green spaces and shopping areas.
The Courtland Gate home comprises a two-story lobby, three bedrooms, a laundry and a study room, with a centrally placed kitchen. Courtland Gate home also accommodates a finished basement with a recreation room, media room, exercise room and a full bath.
Courtland Gate homes come with a 10 year structural warranty, and its residents can therefore save up to 30% on monthly utility bills.
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. 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.
NVR Inc. carries a Zacks #3 Rank (short-term ‘Hold’ rating) while its peer PulteGroup Inc. (PHM - Free Report) carries a Zacks #2 Rank (short-term ‘Buy’ rating). Longer-term, we are maintaining our Neutral recommendation on NVR Inc.