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Ryland Does Luxury Condos in Virginia

Zacks Equity Research

Ryland Homes, Inc. (RYL) recently announced the start of a new community of urban townhomes and luxury condominiums at East Gate in Chantilly, VA. The homes are priced at $290 onwards.

The condos at East Gate will are spread over a floor area of 1,462 to 2,196 square feet. Each single family home comprises of three bedrooms, two and a half baths, a one-car garage, a deck and hardwood flooring in the foyer, and powder room.

The homes also feature open kitchens, equipped with recessed lighting, upgraded 42” maple cabinetry and a black General Electric Co. (GE) appliance package including a 22 cubic feet refrigerator, microwave, gas range and dishwasher.

The community at East Gate promises convenient lifestyle along with close proximity to nature. Additionally, the upcoming community is well connected with Dulles Airport, Route 50 corridor and is easily accessible from major roads like Route 28 and I-66. The townhomes also boasts popular shopping, dining and entertainment destinations nearby.           

Despite the recent increase, interest rates are below historical levels and housing is still affordable. Thus, high affordability levels, increased rentals and historically-low interest rates are driving the housing recovery. In addition, accelerating job growth and increasing consumer confidence are boosting the demand for new homes. In order to cater to the increasing demand, Ryland Homes is investing heavily in building homes.

Ryland Homes carries a Zacks Rank #3 (Hold).

Other Stocks to Consider

Some better-ranked homebuilding companies include TRI Pointe Homes, Inc. (TPH) and Toll Brothers Inc. (TOL). Both these stocks carry a Zacks Rank #2 (Buy).

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Read the Full Research Report on TOL

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