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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