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Land prices coming down would seem to suggest that there's some acknowledgement that the market has changed in perhaps more than just a temporary way.
Things are slowing a little bit faster than we expected.
We just didn't play a very good game today. We kind of beat ourselves,
We suspect the future of this market may unfold similarly to the recent slowdown in Washington, D.C., or a situation similar to the events that transpired in Las Vegas a little over a year ago,
We suspect that the company was forced to utilize significant incentives in order to achieve this level of order growth.
As prices have stagnated since August, inventory levels have continued to grow, as we suspect an increasing number of speculators are placing their homes on the market.
It is clear speculators have headed for the exists in Phoenix. Given the increase in mortgage rates recently, it would seem as if this market will continue to face increasingly more challenging conditions, especially in light of the enormous surge in inventory.
It?s probably people thinking perhaps there was a chance they?d lower their guidance.
I'm kind of skeptical of the number. It would seem to be counter intuitive to show a positive year-over-year comparison.
We continue to believe the company's assumptions appear to be somewhat aggressive given the recent softening in demand trends and the weak orders in the quarter.
