The New Home Company shows its strength as the IPO moves higher amidst general market selling. The California home builder priced its stock at $11 and then immediately jumped to $12. While some investors are worried about the effect of rates on home buyers, CEO Larry Webb says New Homes’ customers have good jobs and the areas it builds in need homes. The New Home Company has a large pipeline with many contracts for new “socially-conscious” homes to be built. TheStreet’s Debra Borchardt has details from Wall Street.
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