Housing Giants - May 23, 2008 - (Page 23)

Only one builder in the Top 5 shows a profit, and it’s only 1.8 percent. Three show losses of 20 percent. know exactly where we’d fall,” says Taylor Morrison President Sheryl Palmer. “But we figured we’d be in the top 15, so 13 is a pleasant surprise. Our combined revenues were not up over 2006, and we didn’t make target margins, but we got our product priced to the market coming out of 2006. We actually even had some markets in Florida increase sales in 2007.” The Drees Co., based in Fort Mitchell, Ky., rose nine positions to No. 21 simply because it is ranked on the basis of a fiscal year ending March 31, 2007, in which the firm had $1.1 billion in revenue on 3,031 closings. “Our numbers are nearly a year old every year when we report them to you,” admits CEO David Drees, “so we look worse than everybody else when the market is rising, but better when it’s falling.” Drees is actually dropping like the rest. Fiscal 2008 shows 2,233 closings for $815 million. TEXAS, CAROLINAS STILL BETTER OFF Houston-based David Weekley Homes, bolstered by closing 78 percent of its 3,996 sales in Texas, climbed two spots to No. 19 after jumping six positions last year. (Below the Top 25, many Texas WWW.HOUSINGGIANTS.COM 5.23.08.HOUSING GIANTS 23 http://www.housingzone.com/giants/article/CA6528815.html?q=sheryl+palmer http://www.dreeshomes.com/jsp/menu.jsp http://www.davidweekleyhomes.com/Site/Default.aspx http://WWW.HOUSINGGIANTS.COM

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Housing Giants - May 23, 2008 Contents Viewpoint & Letters News & Moves Process The Top 25

Housing Giants - May 23, 2008

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