Summary Box: Homebuilder Beazer Homes USA narrows loss in 3Q as completed sales jump 73 pct

Summary Box: Beazer Homes USA 3rd-quarter results

TAX CREDIT BOOST: Beazer Homes USA Inc.’s loss in its fiscal third quarter narrowed slightly as the homebuilder’s revenue surged on a 73 percent jump in completed sales. The spike came as buyers raced to complete their home purchase by June 30 to qualify for federal tax credits.

WEAKER ORDERS: New home orders tumbled 33 percent. The tax credits pulled demand forward resulting in soft sales in May and June. Management says orders have begun to pick up in some markets.

OUTLOOK: Management believes housing demand has hit bottom and anticipates it will pick up as early as next year.