After going public five years ago, the California builder is successfully competing in two red hot real estate markets.
By Scott Sowers | Builder
The New Home Co. sprung to life in 2009 during the depths of the Great Recession and five years later went public. Now, five years after its IPO, the company is one of the country’s top home builders—No. 41 on the Builder 100 list.
CEO Larry Webb says the move to Wall Street was necessary to fuel the company’s growth. “If I wanted to grow our company in multiple markets I needed to be leading a public company because the access to capital and the cost of that capital is much more advantageous if you’re public,” he says.
What didn’t change when the company went public was its commitment to exceptional customer service and personal relationships with the trades and the land sellers. “The real trick is to run a public company with the soul of a private company,” Webb says.