Thursday, May 24, 2012
Ryland earnings fall as low-priced foreclosures hurt new-home sales
The Calabasas builder loses $75.3 million as revenue sinks 36% to $259 million in the first quarter, the company reports. Orders for the company’s homes drop 37%.
The stagnant new-home market strained Calabasas-based home builder Ryland Group Inc., which on Wednesday reported a first-quarter loss of $75.3 million as revenue dropped 36% compared with the same period a year ago.
Ryland earnings fall as low-priced foreclosures hurt new-home sales
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