Taylor Morrison reports significant increase in home sales

North American homebuilder Taylor Morrison today reported a 29 percent reduction in its speculative home inventory over the second half of 2007. The inventory reduction resulted as the Top 15 home builder significantly reduced costs after the 2007 merger of Taylor Woodrow and Morrison Homes. The merger strengthened the company's position by streamlining its corporate structure, adjusting local market pricing and renegotiating option contracts, according to Sheryl Palmer, Taylor Morrison's president and chief executive officer.

In addition, Abbie Martino, Taylor Morrison's Director of Sales and Marketing in Southwest Florida, announced that first quarter 2008 home sales were up more than 30 percent over the same time period for 2007. This increase represented sales in Taylor Morrison communities in Lee and Collier counties.

"We are very pleased and energized by these results and these indicators for the 2008 real estate market," said Martino. "Prospective homebuyers are beginning to re-enter the market, attracted by the current values which may soon be on the rise again."

Martino went on to say, "I also believe the primary reason for Taylor Morrison's success has been our focus and dedication to our family of customers and employees. This core philosophy starts with our CEO and is carried through all our divisions."

In Lee and Collier counties, Taylor Morrison homes are located in Magnolia Landing, Lucaya, Estero Palms, Mediterra, Treviso Bay, Avalon Preserve,

Rio Villa, River Hall and Sandoval. Taylor Morrison's Southwest Florida corporate offices and design center are located on Corkscrew Road.

The merger of Taylor Woodrow and Morrison Homes, which occurred in July 2007, created the nation's 15th largest home builder offering a diverse range of entry-level, move-up and highend housing in Arizona, California, Colorado, Florida, Nevada and Texas. Bringing the two storied and successful companies together under the Taylor Morrison banner has provided customers with a wider range of options offering comfortable and warm environments for all lifestyles.