Case 43 Century Communities

Century Communities was incorporated in the year 2002. The company is the ninth largest homebuilder in the USA. The company went public in the year 2014. The company is the number one fastest growing public builder during the period 2017–2019. The common shares are traded on New York Stock Exchange under the symbol “CCS.” By 2021, the company has operations in 17 states of the USA and in over 40 markets. The company is involved in different aspects of homebuilding such as acquisition, entitlement, and development of land, construction, and sale of quality houses for different range of home buyers. The subsidiaries of the company such as Parkway Title, IHL Insurance Agency, and Inspire Home Loan subsidiaries offer financial services like insurance and lending services. Inspire originates mortgage loans primarily for the homebuilding customers of Century. The company made 9452 new home deliveries in the year 2020. In 2021, Century delivered 10,805 homes and the net new home contracts were a record 12,017 contracts. Approximately 75% of the deliveries were made to entry-level home buyers and 87% of the homes delivered were built as move-in ready homes. Century Communities have consistently made profits for the past 18 years. The company made $3.2 billion in total revenues in the year 2020. Century’s main focus is on the development and sale of single-family homes along with the construction of townhomes, condominiums, and multifamily housing. The land pipeline of the company amounted to approximately 80,000 lots by 2021. Since 2013, Century has expanded geographically through the acquisitions of other homebuilders and organically grown through entry into new markets. The company focuses on diversified product strategy to offer an extensive product offering to entry-level to first- and second-time move-up buyers and lifestyle home buyers.