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BUILDING
MDC orders set new record
The home builder logged the most home orders for any quarter in its history with 4,546 orders, a 3% rise from last year. Arizona orders were up 27%, while Maryland and Virginia markets each logged 17% increases. MDC's backlog rose 11% to 7,893 homes with a value of $2.43 bil, a 17% rise from last year. Shares rose 17 cents to 70.77.
Hovnanian's contracts climb 11%
The home builder cited strong activity in the Southeast and Southwest for a boost in contracts for new houses and condos. Net contracts gained 11% to 1,910 from a year ago while the dollar value rose 22% to $650.4 mil. But California ...