Denver-based MDC Holdings said Tuesday that it returned to a profit in the second quarter, as the homebuilder sold more houses, driving up its home sales revenue by 24 percent.
Orders for new homes jumped 32 percent from the same quarter last year, while completed sales grew 21 percent.
Chairman and chief executive Larry Mizel said the company is well-positioned to achieve its goal of being profitable for the year.
The housing market has shown signs of a turnaround this year, and builders have been more confident, breaking ground on more homes.
While sales of new homes dropped 8.4 percent last month to a seasonally adjusted annual rate of 350,000 — the lowest rate in five months — the sales pace was still 15 percent higher than it was in the same month a year earlier.
MDC reported net income of $10.6 million, or 22 cents per share, for the three months ended June 30.
