Rick Murray
Rick Murray
chance lower people perhaps thinking
It?s probably people thinking perhaps there was a chance they?d lower their guidance.
continued homes increasing inventory levels number placing prices since suspect
As prices have stagnated since August, inventory levels have continued to grow, as we suspect an increasing number of speculators are placing their homes on the market.
continue earnings including likely pressure rapidly trends
The deterioration in home-building trends is materializing more rapidly than many had anticipated, including ourselves, and is likely to continue to put pressure on earnings expectations for the sector.
achieve company forced incentives level order suspect utilize
We suspect that the company was forced to utilize significant incentives in order to achieve this level of order growth.
clear continue enormous exists face given headed increase light market mortgage rates seem
It is clear speculators have headed for the exists in Phoenix. Given the increase in mortgage rates recently, it would seem as if this market will continue to face increasingly more challenging conditions, especially in light of the enormous surge in inventory.