Realty Check
Current Housing Indicators |
| CURRENT | PREVIOUS | ||
| Existing Home Sales | 4.49m | ▼ | 4.74m |
| New Home Sales | 309,000 | ▼ | 344,000 |
| Housing Starts | 583,000 | ▲ | 477,000 |
| Building Permits | 547,000 | ▲ | 531,000 |
| HMI | 9 | UNCH | 9 |
| Existing Home Prices | $170,300 | ▼ (annually) | $199,800 |
| New Home Prices | $201,100 | ▼ (annually) | $232,400 |
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Centex Responds To Land Deal Value
Text Size 
CNBC Real Estate Reporter
Centex [CTX
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] wouldn't comment on Stephen East's estimate that the company got 18 cents on the dollar for the land it sold--an estimate based on his calculation that the land was originally valued around $900 million.
Centex instead is focused on the discount between the current book value of the land ($528m) and the purchase price ($161m). And given that, they consider this is a good deal. I want to give Centex its say from Chairman and CEO Tim Eller:
“These properties were good assets. The strategic rationale made this the right transaction at this time. This sale was designed for a specific purpose at this specific point in time. The discount that’s been noted is a result of making a deliberate business decision involving non-core assets in a bulk sale within our fiscal year. This is a good outcome for Centex considering the broader financial context.”
Questions? Comments?
Data is a real-time snapshot *Data is delayed at least 15 minutes
