Century Communities Leans on Incentives In High Rate Environment -- Market Talk

Dow Jones

2024/12/27

1107 ET - Century Communities sees mortgage rates remaining elevated for the foreseeable future, creating a challenge for its buyers. "If we do stay in a higher-for-longer [rate] environment, I think the builders can still move product, but... incentives will have to be a part of the equation," says Executive VP Jim Francescon. Affordability remains among the biggest hurdles for Century Communities' clientele, which is made up primarily of first-time homebuyers. For Century Communities, the average selling price is around $390,000, Francescon said. The company expects to report up to 11,300 homes delivered and revenue up to $4.4 billion in FY24. (denny.jacob@wsj.com; @pennedbyden)

(END) Dow Jones Newswires

December 26, 2024 11:07 ET (16:07 GMT)

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Affordability remains among the biggest hurdles for Century Communities' clientele, which is made up primarily of first-time homebuyers. For Century Communities, the average selling price is around $390,000, Francescon said. The company expects to report up to 11,300 homes delivered and revenue up to $4.4 billion in FY24. 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Affordability remains among the biggest hurdles for Century Communities' clientele, which is made up primarily of first-time homebuyers. For Century Communities, the average selling price is around $390,000, Francescon said. The company expects to report up to 11,300 homes delivered and revenue up to $4.4 billion in FY24. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4088":"住宅建筑","CCS":"Century Communities"},"translate_title":"世纪社区在高利率环境下依靠激励——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CCS":1},"content_text":"1107 ET - Century Communities sees mortgage rates remaining elevated for the foreseeable future, creating a challenge for its buyers. \"If we do stay in a higher-for-longer [rate] environment, I think the builders can still move product, but... incentives will have to be a part of the equation,\" says Executive VP Jim Francescon. 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