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M.D.C. Holdings, Inc.’s MDC or MDC subsidiary, Richmond American Homes of California, has been focusing on expanding reach in new and existing locations. To that end, it unveiled three new communities — Seasons Ranch, Seasons Elevated and Liberty at Braverde — in Menifee.
The communities will have ranch and two-story floor plans with designer details as well as nine new models. Also, the location is in close proximity to SR-79 and I-215 as well as various amenities.
Solid Expansion Spree & Favorable Housing Markets Bode Well
MDC remains focused on growing demand for entry-level homes, addressing the need for lower-priced homes, given affordability concerns prevailing in the U.S. housing market. The company invests aggressively in land acquisition and development, which is critical for top-line growth.
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Shares of MDC have gained 33.5% over a year compared with the industry's 28.1% rally. The upside is likely to continue, given accretive acquisitions, its focus on the Build-to-Order process and solid housing market backdrop.
Owing to favorable housing market fundamentals, MDC has witnessed a rise in consumer demand, which in turn is driving new orders. New single-family homes’ demand has seen a v-shaped recovery throughout the country and it is not an exception. A combination of lower interest rates and rising need for more work-at-home space has positively impacted affordability, thereby helping the company deliver solid performance
MDC — which shares space with PulteGroup, Inc. PHM, Toll Brothers Inc. TOL and D.R. Horton, Inc. DHI in the same industry — currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
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