CEO: Land sellers seeing the ‘softness’ in the market in 2019
By Angela Gonzales | Phoenix Business Journal
Although Taylor Morrison Home Corp. (NYSE: TMHC) spent $1.1 billion on land acquisitions in 2018, the Scottsdale homebuilder may not maintain that pace in 2019.
“It depends on market conditions — what’s out there in the land seller environment,” Taylor Morrison Chairman and CEO Sheryl Palmer told analysts Wednesday in the company’s fourth quarter earnings call.
“Land sellers aren’t active right now,” she said. “They see some of the softness in the market.”
Still, that could change any time, she noted.
“We never leave the land market,” she told analysts. “We will continue to be selective. We’re in a good place. We can be selective.”