February 27, 2019
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REAL ESTATE: Foreign buyers pull back in OC
Orange County’s contingent of publicly traded homebuilders experienced a rough fourth quarter, as consumers pulled back on purchases amid rising interest rates, a volatile stock market and continued issues of affordability.
Irvine-based homebuilder Tri Pointe Group Inc. (NYSE: TPH) reported a 34% jump in net income during the fourth quarter while forecasting a decline in both new homes and their average selling prices this year.