The builder is still profitable but its bottom line shrank with $26 million in fourth-quarter earnings vs. $38 million in 2021’s last quarter.
When times get tough in homes sales, watch what the homebuilders are doing.
Moving the corporate headquarters from Newport Beach to Dallas won’t cost any Orange County jobs, the company says. It’ll be primarily senior executives, including CEO John Ho, on the move. The relocation, Landsea president Mike Forsum said in a statement, is “driven primarily to give us better efficiency and effectiveness in managing our bi-coastal business by being based in the center of the country in a central time zone.”
So penny-pinching is the hot trend in homebuilding. A Newport Beach corporate address isn’t cheap nor is it a great look for a builder specializing in lower-priced housing.
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