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Taylor Morrison's August sales orders underscore strong housing demand

  • Taylor Morrison Home's (NYSE:TMHC) August net sales orders jumped 74% Y/Y, with the average sales pace per community for the month up more than 50% Y/Y.
  • The company also announces it will redeem all of its remaining 6.000% senior notes due 2023 and 5.875% senior notes due 2025 issued by its subsidiaries, adding up to ~$187M principal amount.
  • The new redemptions come after TMHC partially paid down the same set of notes in July, bringing its total debt reduction to ~$335M, or 12%, since the close of its acquisition of William Lyon Homes on Feb. 6, 2020.
  • See TMHC's long-term debt over the past 11 quarters, with the June 2020 quarter being the most recent:

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