Newport Beach-based William Lyon Homes Inc. on Tuesday said second-quarter home orders were down and order cancellations were up.
The homebuilder saw a 59% drop in orders in California to 304.
Including the company’s operations in Arizona and Nevada, William Lyon reported a 52% drop in new home orders to 550, versus a year ago.
It’s the third consecutive year-over-year quarterly drop for the homebuilder. William Lyon reported a 26% decrease in total orders in the first quarter, and a 7% decrease in the fourth quarter.
For the first half of 2006, California home orders are down 47%, to 696. Total home orders for William Lyon are down 41%.
William Lyon said that the cancellation rate for the second quarter was 32%, compared to 13% a year ago. The homebuilder’s cancellation rate for the six months through June was 30%, compared to 13% a year ago.
The second-quarter drop in sales came even though the number of sales locations was up 17%, to 49.
William Lyon said the number of new home orders per average sales location decreased to 11.2 in the second quarter, compared to 27.5 a year ago. The number of new home orders per average sales location decreased to 24.9 for the six months through June, down from 50.7 a year ago.
