From finished lot to signed mortgage, NVR offers homebuyers everything -- including the kitchen sink. The company builds single-family detached homes, townhomes, and condominiums, mainly for first-time and move-up buyers, primarily in the eastern US. NVR markets its homes as Ryan Homes, NVHomes, Fox Ridge Homes, and Heartland Homes. Its largest markets, the Washington, DC; and Baltimore areas, account for nearly half of sales. Subsidiary NVR Mortgage Finance offers mortgage and title services.
NVR's Ryan Homes and Fox Ridge Homes divisions primarily market to first-time buyers. Ryan Homes operates in some two-dozen metropolitan areas along the eastern seaboard and in Indiana, Kentucky, Ohio, Pennsylvania, and West Virginia. Fox Ridge Homes is dedicated to first-time and move-up buyers in the Nashville market.
NVHomes caters to upscale buyers in the Baltimore, Philadelphia, and DC metro areas. NVR expanded its portfolio of home-building companies in late 2012 when it acquired Heartland Homes, the second largest homebuilder in Pittsburgh. As part of the purchase, NVR plans to continue to use the Heartland Homes name and pair the company with its complementary Ryan Homes.
NVR also has a building product division, which manufactures architectural building components at facilities in Maryland, Pennsylvania, New York, New Jersey, North Carolina, and Tennessee.
NVR increased their market share during the recent economic downturn, growing to be the 4th largest public homebuilder in the United State. NVR’s success is in part due to a conservative land acquisition strategy. To control capital risk, it typically does not develop land, but instead buys option contracts on finished building lots from developers; it purchases finished lots through joint developments, as well. NVR's business strategy helped the company remain profitable and it even managed to retire all of its outstanding public debt.
NVR has also remained profitable by lowering its prices and focusing on areas where it has a high market share. The company has found that it is more efficient to expand within its existing markets, which helps maintain lower costs. Additionally, NVR has steered away from townhomes while building more detached houses, which has resulted in an increase in its average home selling price. – less