Ryan Homes, a division of NVR, Inc. (NVR), announced the opening of a new Roxbury townhome model at the community of Hamilton Chase. Located in Hamilton, NJ, the townhomes are priced from upper $240,000s.
The Roxbury model townhomes at Mercer County offer the comfort of a single family home with the benefits of townhome living. The model home will accommodate a large open concept living space, a kitchen with an upgradeable center island and ample counter space, and attached garage. The owner’s suite will have a closet and a personal bath. The home also offers an upper level laundry.
Homes in Hamilton Chase will come with low maintenance costs as the community offers landscaping and shoveling services. Owing to its proximity to cities such as Philadelphia, New York and Jersey Shore, the residents will have access to numerous fine dining, shopping and entertainment options.
Like all new Ryland homes in Hamilton Chase, these homes include 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 supply. As a result, most of the homebuilding companies are investing heavily in building homes.
Lately, NVR has been focusing on the lucrative market of New Jersey. Last week the company announced the opening of a new Mozart townhome model home at the community of Broad Acres. Located in Blackwood, NJ, the luxurious townhomes are priced from upper $170,000s.
Before that, at the end of May, the company 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.
However, rising home prices and a spike in interest/mortgage rates since May 2013 have slowed down the pace of orders and traffic in the homebuilding industry. This homebuilding company witnessed weak order growth in first quarter 2014. Another homebuilding company Toll Brothers, Inc. (TOL) also witnessed soft order growth in its recently reported fiscal second quarter of 2014.
NVR carries a Zacks Rank #5 (Strong Sell).
Better-ranked stocks in the homebuilding sector include Gafisa S.A. (GFA), and TRI Pointe Homes, Inc. (TPH). Both the companies carry a Zacks Rank #2 (Buy).