Friday, October 12, 2007

Beazer Homes Reports Surge In Cancellations of Orders

From the Wall Street Journal:

Home builder Beazer Homes USA Inc., moving to get legal and accounting problems behind it, now faces another big erosion of orders.

Beazer reported that 68% of its prospective home buyers canceled their orders in the company's fiscal fourth quarter, which ended Sept. 30. The cancellation rate was almost double the 36% of customers who canceled orders and gave up deposits in the prior quarter....MORE