Business Journal: Ryland Leaves Northern California
A homebuilder hammered by the housing market is leaving Northern California.
Friday, August 1, 2008
Another homebuilder will close down its local operations and move from the region. National homebuilder Ryland Homes will end more than 20 years of building in Northern California, citing the hard-hit housing market, especially with the increase in foreclosures during the past two years that are lowering prices for new and existing homes. The Calabasas-based company will complete its three new-home communities and sell its remaining land in Northern California. The company has built more than 4,700 homes in Northern California during the past 10 years. Ryland was the 12th-largest homebuilder in the Sacramento region in 2006, but has dropped this year to 29th, selling only 16 homes. Several major homebuilders have either closed down operations or consolidated headquarters to cut costs in recent months.