BUILDER, a publication that voices the views of National Association of Home Builders, has honored Bloomfield Homes and M/I Homes as the fastest-growing private and public home builders during the celebration of the 25th Anniversary BUILDER 100 Awards held in Chicago on 24th May, 2011. The companies were credited for their achieved compound annual growth rate across a period of three years.
Both companies have registered growth when most of the companies reported significant loss during the recession period. M/I Homes, the Columbus, Ohio-based company, recorded profitable closings for two consecutive years and achieved improved sales in 7 out of total 10 quarters. According to Boyce Thompson, editorial director of BUILDER, M/I Homes utilizes its local market knowledge to track and improve client care.
Thompson said that Bloomfield Homes constantly featured in the annual BUILDER 100 survey. He added that the company, which is based at Dallas, took the right initiatives to achieve the growth. He explained that the company has introduced a value-engineering process with sub-contractors and vendors, tweaked its land inventory to accomplish a more viable land basis, employed adequately experienced middle-level managers and added an experienced sales team to provide tailor-made deal offerings for clients. Thompson further explained how Bloomfield, which currently builds 60% of its homes for up market segment and 40% of homes for entry level customers, plans to construct homes at higher level price in the upcoming years.
Source: http://www.builderonline.com/