Beazer Cautious On New Home Orders Outlook

Beazer Homes USA Inc. announced Wednesday that this year's new home orders may not exceed the prior year's results. The homebuilder previously predicted that fiscal 2010 new home orders would top fiscal 2009's 4,205 homes.

Beazer said it will need at least 767 new home orders in the fourth quarter to beat that figure, and it anticipates the orders will be between 700 and 800 homes based on sales through Sept. 15.

Beazer's 2009 fourth quarter had 1,012 new home orders as first-time buyers took advantage of the tax credit. The credit, which was extended, expired in April. Beazer said it does not anticipate new home orders getting better until unemployment levels and foreclosures ease.