Newport Beach-based homebuilder William Lyon Homes saw orders for new homes fall 35% in the fourth quarter.
The company said the fall wasn’t due to demand but rather a lack of homes to sell and fewer developments to sell homes at.
Orders, in which buyers enter a deal to acquire a William Lyon home, fell to 493 in the fourth quarter from 761 a year earlier.
For the year, orders fell 2% to 3,371 from 3,443, according to the company.
William Lyon’s backlog of homes sold but not closed was 1,166 at the end of 2004, down 8%
