NVR, Inc. (NVR) unveiled the new Springbrook model homes at Regency at Highland Lakes in Westerville, Ohio. Springbrook homes are low maintenance single-family patio homes in a gated community. Regency is located in the reputed Olentangy School District. Home prices start from $190,000 upwards.
The Springbrook includes ranch style living space with large rooms, formal dining space and eat-in kitchens. The homes have 2 bedrooms with a common bath and a master bedroom with 2 walk-in closets, dual vanities and a shower. The home also offers a two car garage. Like all other NV homes, Springbrook homes come with a 10-year structural warranty and are ENERGY STAR certified.
The residents of Regency will the facilities of community living such as parks, swimming pool and a clubhouse. They will also be provided with lawn maintenance, snow removal and trash removal services. Regency homes are close to stores and restaurants at Polaris Fashion Place, Alum Creek State Park and Highland Lakes Golf Club.
NVR Inc. had previously introduced similar single family homes in Stonegate West in Aurora, Illinois, with prices starting from $220,000 upwards. The company had also introduced Ravenna single-family model homes at Lovettsville Town Center in Lovettsville, Virginia, with prices starting from $320,000 upwards.
We like the company’s initiative to constantly introduce new products. With the improvement in the housing market and rising house rents, people are finding it suitable to purchase a home. As such, people who had been delaying purchases are coming back stronger than expected.
With frequent introduction of products, the company will be able to capitalize on the improving markets. Particularly, NVR’s recent introduction of luxury homes will enable the company to capitalize on the fast recovering luxury housing market.
However, we would prefer to stay on the sidelines as the company generally offers homes in different price ranges to cater to different sections of the market. As a result, the company is still exposed to uneven recovery of the housing market.
NVR Inc. carries a Zacks #3 Rank in the near term (Hold rating). We currently have a Neutral recommendation on NVR Inc.
Headquartered in Reston, Virginia, NVR Inc. is one of the leading home building and mortgage banking companies in the United States. The three homebuilding brands owned by the company include Ryan Homes, NVHomes and Fox Ridge Homes. NVR Inc. focuses on purchasing completed building lots at market prices under flat price purchase agreements, in order to forgo the risk associated with land ownership and land development.
More From Zacks.com