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M.D.C. Preliminary Q2 Home Sale Revenues Up 2% - Quick Facts

M.D.C. Holdings, Inc. (MDC) reported that home sale revenues for the third-quarter, on a preliminary basis, increased 2% year-over-year to $584.9 million, primarily driven by a 2% increase in deliveries to 1,317. The dollar value of net new orders for the 2017 third quarter increased 6% year-over-year to $596.7 million, primarily due to an 8% increase in the average selling price of net new orders. The number of net new orders decreased 2% year-over-year to 1,270. The company recognized a pretax gain of approximately $52 million in the 2017 third quarter related to recent investment sales.

M.D.C. Holdings also announced an increase in the aggregate commitment and maturity under its unsecured revolving credit facility. Aggregate commitment under unsecured revolving credit facility increased from $550 million to $700 million, with a two year increase in maturity.

by RTTNews Staff Writer

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