Sam Red's questions to Smith Douglas Homes Corp (SDHC) leadership • Q3 2024
Question
Sam Red questioned the order cadence during the quarter, particularly the slowdown in September and October, and asked for any early observations on buyer traffic post-election. He also inquired about the strategic benefits of the newly announced mortgage joint venture.
Answer
CEO Greg Bennett confirmed that traffic was softer and buyer conversions were slower in September and October, which he attributed to pre-election hesitancy. He noted some encouraging post-election signs but stated it was too early to identify a trend. CFO Russ Devendorf added that the new mortgage JV with loanDepot is primarily aimed at achieving consistency and control over the closing process across the company's footprint.