Beazer Home Closings Cut in Half

Atlanta, GA, Jan. 13, 2009--Beazer Homes said that home closings for the quarter ended Dec. 31 totaled 938, a 53.2% decline from 2,006 homes closed during the same period in the prior fiscal year.

Net new home orders totaled 551 for the quarter, a decrease of 56.0% from 1,252 net orders in the first quarter of the prior fiscal year.

Net orders declined 48.9% in markets where the company maintains a presence and 93.9% in markets the Beazer had previously announced it was exiting. The cancellation rate for the first quarter was 45.6%, compared to 46.6% for the same period in the prior year.