SOURCE: Neighborworks America

NeighborWorks America

June 02, 2015 15:31 ET

NeighborWorks America Ranks Third Among Builders of Affordable Homes in Latest Builder List

Holds No. 59 Position Overall on Builder100 List

WASHINGTON, DC--(Marketwired - June 02, 2015) - Today NeighborWorks America announced that it was named one of the nation's largest builders of affordable homes, according to the Builder 100 list. NeighborWorks America, representing the NeighborWorks network, was ranked No. 3 among builders specializing in affordable for-sale homes. NeighborWorks organizations build homes in suburban, rural and urban markets. For the sixth year, NeighborWorks America ranked among the top 100 of all homebuilders, holding the No. 59 place for 2014 with 597 closings. All of the homes built by the NeighborWorks network are classified as affordable.

In a year of fits and starts for homebuilding, NeighborWorks network members, operating throughout the United States, delivered on their commitment to produce affordable, attractive and energy efficient homes for buyers with low- and moderate-incomes.

"The single-family housing market is on a path of recovery, and prices are climbing in many markets. As a result, affordable housing developers are focused on business models that keep their homes priced at levels that their traditional customers can afford," said Tom Deyo, vice president of real estate programs at NeighborWorks America.

Like other top builders in the market, NeighborWorks homebuilders are paying close attention to the details of their mission-based operations, squeezing savings where they can in order to keep their homes at prices that align with their customers' affordability. Locking in material prices as early as they can through bulk agreements with suppliers and utilizing construction methods that minimize waste are just two of the cost containment strategies employed by NeighborWorks homebuilders.

Deyo added that, "While low-waste building strategies offer bottom line upfront pricing benefits, they also fit seamlessly into the network's goal of developing resource efficient homes. Because NeighborWorks recognizes that there is more to the cost of homeownership than the mortgage payment, its builders make every effort to install energy efficient appliances and water-conserving fixtures, and other 'healthy-housing' features that help keep the total cost of homeownership low and improve indoor living spaces."

Factory built homes and the self-help building model continue to be a growing part of the for-sale home business for several NeighborWorks organizations, illustrating the reality that there is no one way to develop quality, affordable for-sale homes.

In addition to home construction, NeighborWorks organizations offer services to homebuyers that many builders don't, including pre- and post-purchase homebuyer education, and diverse lending options -- in order to help consumers achieve their dream of long-term, affordable homeownership.

For more information about the mortgage services offered by NeighborWorks organizations, go to www.neighborworks.org/homeownership.

About NeighborWorks America
For more than 35 years, NeighborWorks America has created opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and safe, affordable rental housing. In 2014, NeighborWorks America and its network created or sustained 35,000 jobs, and in the last five years, member organizations generated more than $22.5 billion of reinvestment in these communities. NeighborWorks America is the nation's leading trainer of community development, financial capability and affordable housing professionals.

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