Hovnanian Down Today
Homebuilder Hovnanian, which is based in Red Bank, saw it share price slide today to the amazement of its CEO. Wall Street is looking for any reason to sell home building stocks and penalized the company because it missed the average EPS estimate by 2 cents.
Interestingly, and I'll have to look this up myself, on the Yahoo Hovnanian message board, some one posted that Kara Homes is advertising steep discounts in the Asbury Park Press. Did anyone else see this?
For the record, Kara Homes is a builder of luxury type homes with a few projects at the Shore, including the old Trade Winds site in Sea Bright.
Interestingly, and I'll have to look this up myself, on the Yahoo Hovnanian message board, some one posted that Kara Homes is advertising steep discounts in the Asbury Park Press. Did anyone else see this?
For the record, Kara Homes is a builder of luxury type homes with a few projects at the Shore, including the old Trade Winds site in Sea Bright.
posted by Little_Silvered at 7:03 PM
1 Comments:
I don't have any info on discounting by Kara, but I knowan insider who said they missed their second quarter sales target by close to 50 percent.
BTW, while the eastern monmouth MLS saw a rise this week, western Monmouth saw a considerable pop. of around 150-200 homes. That could be a single development coming online, but total county mls listings top 5,300 (there is a southern region as well).
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