Homebuilder NVR Inc. (NVR) unveiled single-family model homes at Norman Pointe in Denver, North Carolina. The all-brick homes are priced at $310,000 and above and have been built under NVR's Ryan Homes division.
Norman Pointe lies in close proximity to the uptown Charlotte and provides a suburban lifestyle to the dwellers. The locality situated on Lake Norman combines the natural wooden feel with easy connectivity to the civic amenities like stores and restaurants and acclaimed schools.
Apart from on-site boat storage and public boat access, the residents can enjoy lower Lincoln County taxes.
The two-storied lavish homes span 5,500 square feet and feature up to seven bedrooms and six baths. The first floor, spanning 3,900+ square feet, has a luxurious owner’s suite, 4+ bedrooms and 3+ baths in a center hall colonial design. The house also has a two-storey entrance foyer with a formal living room and dining room on either side. Additionally, the first floor has two baths and three bedrooms. The living room can be converted into a double-door study and used as a home-office. The homes have a 2-car garage facility.
Like all new Ryan homes, those at Norman Pointe are ENERGY STAR certified, resulting in 30% lower monthly utility bills than standard homes. All Ryan homes carry a 10-year structural warranty and are independently verified by a third-party inspection company.
With the recovery in housing markets, most homebuilders are investing heavily in building homes. However, the recent volatility in mortgage/interest rates has raised concerns among consumers. While the rise in interest rates dilutes the demand for new homes, it also lowers the buyer’s purchasing power, thereby, affecting revenues and profits of the homebuilders.
Other Stocks to Consider
NVR carries a Zacks Rank #4 (Sell). However, stocks in the construction sector that are performing well and deserve a mention include M/I Homes Inc. (MHO), K.B. Home (KBH) and Meritage Homes (MTH). While M/I Homes carries a Zacks Rank #1 (Strong Buy), K.B. Home and Meritage Homes hold a Zacks Rank #2 (Buy).