By Ronald J. Hansen | The Arizona Republic
Boosted by continued improvement in U.S. housing markets, the Taylor Morrison Home Corp. reported solid sales growth during the second quarter.
A 52 percent increase in home closings during the quarter lifted revenue from sales to $496 million, the Scottsdale-based company noted in filings with the Securities and Exchange Commission on Tuesday. Gross margins on the sales also rose to 20.5 percent, up from 19.4 percent a year ago.
The increased sales happened even as the company said it was selectively “metering” construction to keep demand — and profits — higher. In areas such as California, resale housing inventory is especially tight, said Sheryl Palmer, CEO of Taylor Morrison, in a call with investors.
