socialmedian: Redrow says home sales have been stable

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Source: Wall Street Journal

Nov 04, 2009

Summary

LONDON (MarketWatch) -- U.K. home builder Redrow said Wednesday that home sales in its financial year to date have been stable. Total net private reservations achieved in the first 18 weeks are 47% ahead of the same period last year with cancellation rates having returned to historic norms, the firm said. It said achieved prices are slightly ahead of expectations with private reservations to date averaging 149,000 pounds. "We anticipate that we will start to see a trend of increasing average selling prices as we improve our product mix towards family housing," the firm said. "We enter 2010 well placed to meet the challenges and opportunities ahead," it added.

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