Townsend Appraisal Commentary

Homebuilders are retooling, rightsizing and hoarding cash as they weather the country's prolonged housing slump. They've discovered new ways to get homes built during the downturn, like turning to private equity firms to provide project funding.

And they are innovating in other ways: adding technology, rethinking design, going green and investing more in market research to build a home that consumers will buy, builders said.

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