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Builder buys home sites from local developer

Posted: June 22, 2012 2:00 a.m.
Updated: June 22, 2012 2:00 a.m.

Homebuilder D.R. Horton has purchased additional home sites in the Santa Clarita Valley from Newhall Land. The Texas-based builder already builds executive-style homes at The Preserve in Sand Canyon — a type of home local experts say is important to attracting owners and CEOs of companies to the region.

“We are pleased that D.R. Horton recently acquired 283 home sites from us in our prestigious West Hills community,” said Marlee Lauffer, vice president of marketing and communications for Newhall Land.

D.R. Horton will be offering homes in the 2,700- to 3,900-square-foot range, with the anticipated opening of models early next year, Lauffer said. The West Hills community is in Valencia. The Sand Canyon homes have up to 3,864 square feet, four beds and baths and three-car garages. Some have detached “casitas” and start at $800,000.

We know that the homes will showcase innovative and exciting designs as D.R. Horton has an excellent reputation as a quality homebuilder, Lauffer said. “We look forward to having D. R. Horton return to Valencia and be part of our new home sales program.”

Recently releasing its fiscal second quarter, which ended March 31, D.R. Horton reported that its homebuilding revenue increased 28 percent to $935.6 million over the same quarter in 2011. Home-sale closes increased 21 percent over the same quarter a year ago, with 4,240 sales.

On a broader perspective, for the six months ending in March 2012, homebuilding revenue increased 21 percent to $1.8 billion over the first six months of fiscal year 2011. And home sales closed climbed to 17 percent, or 8,358 homes, over the same period in fiscal 2011.

Stocks traded at $16.45 per share at close of trading Thursday.


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