NVR News and Press, NVR Inc. From 09/28/22

“XHB” – the SPDR S&P Homebuilders ETF ended about 5.0% up on Wednesday even though the National Association of Realtors said pending home sales in the U.S. were down 2.0% last month. KeyBanc is now ‘overweight’ homebuilder stocks Housin...

Summary PulteGroup, Inc. has been accused of overpaying executives; however, my analysis shows that Pulte’s CEO pay is in line with peers. On corporate governance overall, PulteGroup can improve by increasing transparency and insider ownership, whilst slimming the board. ...

Summary A discussion of past VBR pick performance is included. Comstock Holdings is analyzed, looking at fundamental undervaluations and rising buying momentum. A unique and experienced management team owning 62% of shares, with a track record of real estate success, is now in...

Summary 30-year fixed mortgage rates have surged from ~3% at the beginning of the year to 6% now. Real-time indicators show prices falling steadily and inventory rising rapidly, albeit from low levels. The out-of-control COVID housing market bubble is over. Investing...

Summary MDC is not your average homebuilder. It pays a 6.6%-yielding dividend that has not been cut or reduced once since 1994. MDC operates with a large cash position that acts as a buffer against difficult periods and dry powder for periods of high opportunity. Millennials (...

Summary NVR is a textbook example of excellent capital allocation, consistently earning a 20%+ ROIC on a growing capital base. NVR has reduced their share count by 75% since going public, increasing EPS four-fold on top of organic earnings growth. NVR is undervalued in the cur...

Motley Fool contributor Jason Hall discusses the opportunity in investing in homebuilder stocks like Meritage Homes (NYSE: MTH) , LGI Homes (NASDAQ: LGIH) , and NVR (NYSE: NVR) . These companies benefit from the long-term trend of low existing home inventory in the U...

Summary Sales of new single-family houses collapsed by 12.6% in July from the already beaten-down levels in June, and by nearly 30% from July last year, to a seasonally adjusted annual rate of 511,000 houses. Inventory for sale in all stages of construction jumped to 464,000 house...

The confidence of builders of single-family houses, after the second-biggest plunge in the data last month, fell again in August. Traffic is an indication of interest by buyers. And with the headwinds buyers face, including sky-high prices and 5%+ mortgage rates, they’ve lost i...

2022 year-to-date performance was -25.4% in select accounts. Some of our worst performers continued to be our largest positions. This quarter, similar to the period early in the COVID pandemic, I scoured the portfolio for companies that might have challenges funding their growth p...