Standard Pacific names new president
Standard Pacific Homes has appointed Scott Stowell as its new president, reporting to CEO Ken Campbell. Stowell has served as the company’s chief operating officer since 2007 and was instrumental in Standard Pacific Homes’ successful financial and operational transformation, according to the announcement.
Prior to being appointed COO, Stowell held progressive roles within Standard Pacific, including president of the Orange County division and president of the Southern California region.
“[Stowell’s] expertise was vital in transforming Standard Pacific Homes from a company that some had counted out of the game to one of the frontrunners in the industry,” CEO Campbell said. “As we turn our sights toward building for the future and focus on land acquisition and a revitalized housing market, I look forward to continuing to work together to take our organization to the next level."
Headquartered in Irvine, Calif., Standard Pacific has operations in major metropolitan areas in California, Florida, Arizona, the Carolinas, Texas, Colorado and Nevada.
February housing starts sink 22.5%
Inexplicably, housing starts took a dive in February, according to data released Wednesday by the Department of Commerce.
Privately owned housing starts in February were at a seasonally adjusted annual rate of 479,000; that’s 22.5% below the upwardly revised January estimate of 618,000. It’s also 20.8% below the February 2010 rate of 605,000.
Even more disappointing from a home builder’s standpoint, February’s number was the second worst month on record. Only April 2009 generated a slower rate of home construction, at 477,000.
On a single-family basis, starts were at a pace of 375,000, the lowest since March 2009.
The National Association of Home Builders (NAHB) described the results as "disconcerting" in a release today.
"The decline in new construction and permits in February is the culmination of a great deal of nervousness that both builders and consumers are feeling right now," said Bob Nielsen, chairman of the NAHB and a home builder from Reno, Nev. "In an already-fragile market where credit for building and buying homes remains extremely tight, additional concerns about energy costs, interest rates and other factors are contributing to an atmosphere in which many have adopted a very cautious stance."
KB Homes to add LP radiant barrier
KB Homes has announced its intention to add LP’s TechShield Radiant Barrier roof sheathing at no additional cost in new homes built across the United States. The company is the first residential home builder to make this a standard feature in all its new community homes.
KB Homes also installs low-E windows, Energy Star appliances and programmable thermostats as standard features in its homes.
LP TechShield is made of a thin sheet of aluminum laminated to oriented strand board (OSB). The product helps block heat in the roof sheathing from entering the attic, reducing the overall heat load and energy costs.
“KB Homes prides itself on being an innovator among its competitors, continually looking for new technologies that will benefit our home buyers,” said Dan Bridleman, the company’s VP supply chain and technology.