Standard Pacific’s November Orders Mixed: Southern California Strong, North Sees Drop
Irvine-based homebuilder Standard Pacific Corp. reported a strong increase in November new home orders in Southern California and a sharp decline in the north part of the state.
Statewide, Standard Pacific said initial new orders were down 7% to 134 homes in November vs. the year-ago period.
Northern California accounted for the drop with a 50% decline to 34 new home orders. The number of communities selling Standard Pacific homes in Northern California went from 15 a year ago to 14 in November.
Southern California showed a 32% gain in new home orders to 100.
The number of communities selling Standard Pacific homes in the south went from 20 to 29.
Companywide, Standard Pacific reported 254 orders for new homes, down from 285 a year ago.
Arizona orders increased from 73 to 85; Texas orders dropped from 40 to 28; and Colorado sales dropped from 28 to seven.
The company said its cancellation rate for November was 29%, vs. 28% in the year-ago period.
