Haverty Furniture Companies (HVT) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Company Participants Richard Hare - EVP & CFOSteven Burdette - President & CEO Conference Call Participants Anthony Lebiedzinski - Senior Equity Research AnalystCristina Fernández - Managing Director & Senior Equity Research Analyst Operator As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Richard Hare, Chief Financial Officer. Thank you, sir. You may begin. Richard Hare Thank you, ...

Core Insights - The annual income required for a U.S. household to afford a median-priced home has increased to $114,000, marking a 70.1% rise from $67,000 six years ago [1][4][8] - Despite affordability challenges, the housing market is showing signs of rebalancing, with increasing inventory and more flexible pricing from sellers [2][9] Housing Metrics - The median listing price in April 2025 is $431,250, reflecting a 1.5% increase from March 2025 and a 36.9% increase from April 2019 [3] - Active listings have risen to 959,251, a 30.6% increase year-over-year, although still 16.3% below the 2017-2019 norms [3][10] - The share of active listings with price reductions is at 18.0%, indicating sellers are adjusting prices to attract buyers [3][9] Required Income Analysis - The income required to afford a median-priced home has increased by $47,000 since 2019, driven by rising home prices and elevated mortgage rates [4] - Specific metro areas have significantly higher required incomes, with San Jose at $370,069, an increase of 54.3% since April 2019 [5] Pending Home Sales Trends - Pending home sales have declined for four consecutive months, with a 3.2% decrease in April 2025 compared to the previous year [6][7][8] - The rise in mortgage rates is a key factor contributing to the slowdown in pending home sales [6][9] Market Dynamics - The West and South regions have seen substantial growth in active listings, with San Diego and San Jose experiencing increases of 70.1% and 67.6%, respectively [10] - The current market conditions suggest that buyers may have more options and leverage, as sellers are becoming more accommodating [2][9]

Core Insights - The report highlights a nationwide housing shortage of over 4 million homes, emphasizing the growing concern of affordability for millions of Americans [1][5] - States are graded based on their housing affordability and homebuilding capabilities, with South Carolina, Iowa, and Texas receiving the highest marks [1][4] Affordability and Homebuilding Metrics - The grading system evaluates affordability through the REALTORS® Affordability Score and the percentage of median income spent on a median-priced home, while homebuilding is assessed via the permit-to-population ratio and the new construction premium [2] - Only 18 states meet the 30% income rule for housing affordability, with Texas, Florida, California, North Carolina, Georgia, Arizona, and South Carolina accounting for over half of all construction permits issued in 2024 [4] Regional Performance - The South and Midwest are leading in both affordability and homebuilding, with South Carolina achieving the highest grade of A due to proactive homebuilding efforts [5] - The Northeast and West Coast are lagging, facing high home prices and limited new construction, with Rhode Island ranking at the bottom of the list [6][7] Zoning and Regulatory Challenges - States on the coasts, such as Massachusetts, face stricter zoning regulations that hinder affordable housing development, with 76% of Massachusetts' land subject to zoning [8] State-by-State Rankings - The report provides a detailed ranking of all 50 states, with South Carolina scoring 75.2 (A), Iowa 71.6 (A-), and Texas 71.5 (A-) [9][10] - The lowest-ranked states include California (19.5, F), Hawaii (15.8, F), and New York (13.2, F), highlighting significant disparities in housing affordability and construction efforts across the U.S. [10]

Century Communities (CCS) Q4 2024 Earnings Call January 29, 2025 05:00 PM ET Company Participants Tyler Langton - Senior Vice President, Investor RelationsDale Francescon - Executive ChairmanRobert Francescon - CEO & PresidentJ. Scott Dixon - CFOCarl Reichardt - Managing Director - Equity ResearchJay McCanless - SVP - Equity ResearchAlan Ratner - Managing DirectorMichael Rehaut - Executive Director Operator Greetings. Welcome to Century Communities 4th Quarter and Full Year 20 24 Earnings Conference Call. A ...