One of the leading home building and mortgage banking companies in the United States, NVR, Inc. (NVR - Free Report) unveiled the new Ravenna single family model home in West Chesapeake, Va. The new model home is built in a community of luxury homes called The Park at Centerville Commons.
Built under the Ryan Homes division, the luxury single family homes are located at the center of Chesapeake. Residents will have easy access to many restaurants, shopping centers and the Virginia Beach, which is a popular tourist destination.
The luxury model home offers the convenience of a single family home with ample living space, 4 bedrooms, 2 baths, a formal living room, a dining room and a large kitchen. The owner’s bedroom consists of a walk-in closet, a spa style bath and an optional tray ceiling. Ravenna 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 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. With frequent introduction of products, NVR will be able to capitalize on the improving markets.
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 - Free Report) , Consorcio ARA, S. A. B. de C. V. and KB Home (KBH - Free Report) , all carrying a Zacks Rank #2 (Buy).