Scottsdale homebuilder shelled out $1B for land in 2018

In January, Taylor Morrison opened model homes at Montoro Preserve near 83rd Avenue and Happy Valley Road in Peoria. / Taylor Morrison / Phoenix Business Journal

 

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.”

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