Dominion Homes reports weak second quarter
Dublin, Ohio-based Dominion Homes has reported preliminary second quarter sales of $40.1 million, down 39.4 percent from $66.2 million from last year.
The company, which sells homes in the Midwest, sold 206 homes in the first quarter, down 48.2 percent from 398 last year. Average home prices dropped 4.1 percent to $199,800 from $208,300.
At the end of the quarter, Dominion had a backlog of 319 sales contracts with a total value of $66.4 million, compared to a backlog in the year-ago quarter of 548 sales contracts with a value of $109.5 million.
The company will officially announce financial results for the second quarter, including net earnings, on Aug. 10.
Dominion Homes builds in Ohio and Kentucky.