Tri Pointe Homes Q4 Net New Home Orders Increased 143% YoY To 1,078; Backlog Units Increased 58% To 2,320
Portfolio Pulse from Benzinga Newsdesk
Tri Pointe Homes (TPH) reported a significant increase in Q4 net new home orders by 143% YoY to 1,078, with backlog units also rising by 58% to 2,320. The average number of active selling communities increased by 16%, and the net new home orders per average selling community surged by 109%. The cancellation rate improved dramatically from 42% to 12%. The dollar value of the backlog at quarter end rose to $1.6 billion, a 38% increase, although the average sales price in the backlog decreased by 12% to $695,000.
February 20, 2024 | 11:13 am
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Tri Pointe Homes reported a significant increase in Q4 net new home orders and backlog units, with a notable improvement in cancellation rates and an increase in the dollar value of the backlog.
The substantial growth in net new home orders and backlog units, coupled with a significant reduction in cancellation rates, indicates strong demand for Tri Pointe Homes' offerings. The increase in the dollar value of the backlog, despite a decrease in the average sales price, suggests a healthy sales pipeline. These factors are likely to be viewed positively by investors, potentially leading to a short-term increase in TPH's stock price.
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