One of the leading home building and mortgage banking companies in the United States, NVR Inc. (NVR) unveiled the new Rome single family model home in Nottingham, Maryland. Home prices start from $350,000.
Located in the upscale community of Shadow Knoll, the residents will have easy access to the White Marsh Mall, “The Avenue”, dining and shopping options.
The Rome comprises a living room and dining room. The spacious kitchen has a walk-in pantry, a dinette area, kitchen island and an optional light-filled morning room. The second level comprises owner’s suit with a spacious bath and sitting room, four bedrooms, an open loft, a hall bath, laundry and closet space. The owner will also get a 2-car garage space.
The Rome comes with a 10-year structural warranty. The home is also fully ENERGY STAR Certified and its residents can therefore save up to 30% on monthly utility bills.
The rising demand for new homes has led to a favorable situation in the housing market, where inventory levels are dropping and prices are moving up. Therefore, frequent product introduction is necessary in order to maintain the required level of inventory to meet the growing demand for homes. As such, one of its peers, KB Home (KBH) recently acquired lands for 100 luxury homes in the sought after community of Playa Vista in Westside, Los Angeles. Another of NVR’s peer, PulteGroup, Inc. (PHM) plans to invest more than $1.0 billion in land development and acquisition.
Regarding NVR, we are positive about the company’s initiatives to constantly introduce new products, which we believe will help it to capitalize on the improving markets.
However, we would prefer to stay on the sidelines as the housing market is still in the recovery stage and the macroeconomic parameters are showing slow growth trajectory.
NVR Inc. carries a Zacks #3 Rank (short-term ‘Hold’ rating). For the longer term, we are maintaining our Neutral recommendation on NVR Inc.