Centex Corp. Sells Only 1,080 Homes For Quarter
Centex Corp., one of the largest home builders in the country, had a dismal 3rd quarter to end 2008.
They sold only 1,080 homes. Now lets put that into perspective.
In 2005, Centex Corp. sold 37,022 homes for the year, or an average of 9,255 homes per quarter as the #4 builder in the country.
This quarter they sold 1,080 homes for the quarter which annualizes to 4,320 homes. That is a drop off of 89%.
And you wonder why builders are hurting?
“Abrupt and sweeping changes in the economy caused unprecedented homebuyer hesitancy, which severely impacted sales early in the quarter,” said CEO Timothy Eller. The company said that, due to current market conditions and because it expects house prices to continue to decline, it will take between $550 million and $600 million in non-cash impairments in the quarter, primarily for land valuation. FOXBusiness.com.
Very funny comparison. However you don't need to pay property tax on Barbies 3 Story Dream House. With the unemployment ...
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
