Builder Expects 25-40% Sales Dip...

Builder expects 25-40% sales dip, from the Arizona Republic, reports that Engle Homes is the latest builder to announce sales are falling because of weakened demand and more buyers cancelling deals. The are expecting a 25-40% dip in second quarter sales from the same quarter last year. "We are experiencing a more challenging housing market, characterized by higher inventory levels, softening demand and increased competition," said Chief Executive Antonio Mon. "We expect these conditions to impact most of our markets for at least the remainder of 2006." Several other builders also recently announced lower sales projections, including Standard Pacific and Pulte.



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