Beazer appoints Tim Little as Phoenix division president
Beazer Homes USA has appointed Tim Little to the post of Phoenix division president.
“We are extremely pleased to welcome Tim to Beazer Homes," said president and CEO Allan Merrill. "He possesses a strong track record of leadership and success in the Phoenix market, including extensive experience in land acquisition and development. We believe the Phoenix market is one of the most important and dynamic new home markets in the country and adding a seasoned executive like Tim underscores its importance to us."
Little brings 30 years of home-building experience to the table, which includes divisional and financial management stints at Standard Pacific, UDC Homes and Estes Homes. Most recently, he led the Arizona Division for AV Homes. He is also a cerified public accountant in Arizona and Colorado.
Little will be replacing Ken Dohrn, who is taking a new position in California for Beazer Homes.
Existing-home sales take a hit in January
On the heels of an unrelenting winter, existing-home sales reached a year-and-a-half low of 4.62 million in January (down 5.1%), though home prices continued to rise, according to the National Association of Realtors.
Single-family home sales were down 5.8% to a seasonally adjusted annual rate of 4.05 million, which is 6.0% below January 2013’s rate.
The median existing-home price — as well as the median single-family existing-home price — was $188,900 in January, up 10.7% year-over-year. Meanwhile, total housing inventory rose 2.2% in January to 1.90 million existing homes available for sale, representing a 4.9-month supply.
January’s seasonally adjusted annual rate was also 5.1% below January 2013’s rate of 4.87 million units (identical to that of December 2013).
“Disruptive and prolonged winter weather patterns across the country are impacting a wide range of economic activity, and housing is no exception,” said NAR chief economist Lawrence Yun. “Some housing activity will be delayed until spring. At the same time, we can’t ignore the ongoing headwinds of tight credit, limited inventory, higher prices and higher mortgage interest rates. These issues will hinder home sales activity until the positive factors of job growth and new supply from higher housing starts begin to make an impact.”
NAR president Steve Brown also added that higher flood insurance rates have led to a cancellation or delay of 30% of transactions in flood zones across the country, which account for 8 to 9% of sales.