NVR Inc. / NVR

About NVR Inc.

11700 Plaza America Dr., Suite 500, Reston, Va. 20190
www.nvrinc.com | 703-956-4000 | Founded: 1980

Industry: Real Estate | Category: Top 100 Companies

NVR has ridden the real estate roller coaster for the past 15 years. The company went through Chapter 11 bankruptcy reorganization in the recession of the early 1990s, then soared to 11 straight years of record profits. The company's 2005 profit was nearly $698 million, up 33 percent from the previous year.
But buyers began balking at sky-high prices, and by the third quarter of 2006, sales of new NVR homes had fallen 18 percent from the corresponding period a year earlier. Meanwhile, people who had intended to buy got cold feet, and more than a quarter of the buyers already in line canceled their orders. The result was that NVR's overall home sales declined about 10 percent for the year, dropping to 13,217 from 14,653 in 2005.
That's when company officials decided to pull in their horns. The company announced it would write off $174 million in good-faith deposits it had paid land owners to secure the right to build on their properties. Instead, the company will focus on projects it has already begun rather than starting new ones.

Chairman: Dwight C. Schar

Chairman: Dwight C. Schar

2007 Financial Data

Total employees: 4,548 | Local employees: 1,000