DALLAS, Aug. 28, 2009 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring Standard Pacific Corp. (NYSE:SPF). The report includes financial and investment analysis, analyst consensus, and pertinent industry information you need to know to make an educated investment decision.
The investment report on Standard Pacific Corp. (NYSE:SPF) should be of particular interest to other real estate companies: California Coastal Communities Inc. (Nasdaq:CALC), NCI Building Systems Inc. (NYSE:NCS), Pulte Homes Inc. (NYSE:PHM) and D.R. Horton Inc. (NYSE:DHI).
It is available at: http://www.stockpreacher.com/n/SPF
Standard Pacific Corp. (SPF) is a real estate development and financing company. It constructs and sells single-family attached and detached residential homes. The Company constructs homes of varying price and size, thereby targeting a broad customer base. It has developed more than 106,000 homes since its inception. SPF has operations in metropolitan areas in California, Texas, Arizona, Colorado, Florida, the Carolinas and Nevada.
In the report, the analyst notes:
"SPF's operations continue to be impacted by weak housing demand in substantially all of the major housing markets across the country driven by a housing supply/demand imbalance, record foreclosures, declining home prices, low consumer confidence and rising unemployment. During the second quarter of 2009, the Company's consolidated average home price decreased 8% to $302,000 as compared to $327,000 for the year earlier period. According to the U.S. Department of Commerce, the April-June median home price was $214,100 and the average home price was $274,200.
"Net new orders (excluding joint ventures and discontinued operations) for the 2009 second quarter decreased 6% from the 2008 second quarter to 1,169 new homes on a 29% decrease in the number of average active selling communities from the prior year period. The Company's cancellation rate for the three months ended June 30, 2009, was 16%, down from 24% for the 2009 first quarter and 25% for the 2008 second quarter. SPF's sales absorption rate for the 2009 second quarter was 2.7 per month per community, up from the prior year second-quarter rate of 2.0 per month per community, and up from 1.5 per month per community for the 2009 first quarter."
To read the entire report visit: http://www.stockpreacher.com/n/SPF
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