Ryan Homes, a division of NVR, Inc. (NVR) announced the opening of new Venice single family model homes at a new community called Country Woods. Located in Burlington, NJ, the single family homes are priced from under $310,000.
The Venice model home at Country Woods will accommodate 4+ bedrooms, 2+ bathrooms, a large family room, gourmet kitchen with an upgradeable center island, a formal living room and a second story laundry room. The owner’s suite will also include a large walk-in closet, and a personal bath with dual sink vanity.
Homebuyers in the community will be offered various floor plans with ample living space. The homes can accommodate up to 5 bedrooms and five baths. All the homes include a two car garage, and a full basement. The community is surrounded by the beautiful Green Acres Park.
Like all new Ryland homes in Country Woods, these homes have Energy Star certified appliances and carry 10- year structural warranties.
With the housing market recovery, a significant gap has been created between demand and supply of homes. Compared to the rising demand for new homes, there is a shortage of adequate supply of homes. As a result, most of the homebuilding companies are investing heavily in building homes.
However, rising home prices and a spike in interest/mortgage rates since May 2013 slowed down the pace of orders and traffic in the homebuilding industry. This Zacks Rank #5 (Strong Sell) has also witnessed weak order growth in first quarter 2014.
Better-ranked stocks in the homebuilding sector include Gafisa S.A. (GFA), Toll Brothers, Inc. (TOL) and TRI Pointe Homes, Inc. (TPH). All the companies carry a Zacks Rank #2 (Buy).