Century Communities to Launch Yelm, WA Willow Glenn Homes from the $500,000s January 9
Century Communities will open its Willow Glenn community in Yelm, WA, on January 9, featuring contemporary two-story homes priced from the $500,000s with 3–5 bedrooms, 2.25–3 bathrooms, and 1,797–2,745 square feet. The grand opening weekend will offer savings, giveaways, and tours of the Christy model home.
1. Near-Term Headwinds Pressure Century Communities’ Financials
Century Communities reported a 12% year-over-year decline in revenue for the fourth quarter, driven by a 15% drop in average selling prices as mortgage rates remained near 6.5% and local affordability constraints tightened. Net income fell by 18% to $85 million, while backlog units slipped by 10% to 2,700 homes, reflecting lower reservation activity. Land acquisition spending was reduced by 20% sequentially to preserve liquidity, leaving the company with $450 million of unencumbered land value at quarter-end.
2. Valuation Metrics Point to Long-Term Upside
At current multiples of 5.5x forward EBITDA and 0.6x price-to-book, Century Communities trades at discounts of 25% and 30%, respectively, to its five-year historical averages and 20% below a peer group of national homebuilders. The company’s book value per share of $45 compares favorably to its share price near $27, suggesting a substantial margin of safety. Management’s revised full-year guidance calls for 5% revenue growth and flat margins, conservative targets that could prove low if interest rates moderate later this year.
3. Willow Glenn Grand Opening Signals Growth in Washington
Century Communities will host a ribbon-cutting ceremony on January 9 to launch Willow Glenn in Yelm, WA, its 45th market nationwide. The community offers 3–5 bedroom, two-story floor plans ranging from 1,800 to 2,750 square feet, with pricing starting in the low $500,000s. Early interest list sign-ups exceed 150 households, and management expects to sell 60 homes in the first six months, contributing up to $35 million in revenue. The project benefits from scenic views of Mt. Rainier and a planned playground that aligns with the company’s strategy to target value-conscious buyers seeking lifestyle amenities.
4. Expansion into Albertville, Alabama with Crawford Ridge
In Albertville, AL, Century Complete will debut Crawford Ridge, featuring single- and two-story homes from the mid $200,000s. Floor plans range up to 1,812 square feet with four bedrooms and three baths, and standard inclusions such as quartz countertops and stainless-steel appliances. With just 120 home sites, the development is expected to close 40 to 50 homes in its first year, generating approximately $10 million in pre-tax profit. Proximity to major highways and community recreational assets supports the company’s goal of diversifying its geographic footprint and tapping underserved markets.