NVR, Inc.
| Company type | Public |
|---|---|
| Industry | Residential construction, mortgage financing, title services |
| Founded | 1980 |
| Founder | Dwight Schar |
| Headquarters | Reston, Virginia , United States |
Area served | East Coast of the United States (14 states plus the District of Columbia) |
Key people | Dwight Schar (founder) |
| Products | Homebuilding (Ryan Homes, NVHomes, Heartland Homes), mortgage financing, title services |
NVR, Inc. is a U.S.-based residential construction firm with its main office located in Reston, Virginia. The company also provides mortgage financing and title services. Concentrating its operations mainly along the East Coast of the United States, NVR conducts business in 14 states plus the District of Columbia, with the Washington metropolitan region accounting for 22% of its 2021 revenue.
The company sells homes under the brand names Ryan Homes, NVHomes, and Heartland Homes. To minimize risk, NVR does not engage in land development but instead acquires fully prepared lots. By 2023, it holds the position of the fourth largest homebuilder in the U.S. by number of homes sold and was ranked 389th on the 2022 Fortune 500 list. Its stock value ranks second highest among U.S. publicly traded companies, trailing only Berkshire Hathaway Class A shares.
History
Established in 1980 as NVHomes, Inc. by Dwight Schar, the company expanded its reach by acquiring Ryan Homes—originally founded in 1948 in Pittsburgh, Pennsylvania—in 1986.
After experiencing financial difficulties during the early 1990s recession, NVR filed for bankruptcy protection in April 1992 but successfully reemerged as a publicly traded entity by September 1993.
The acquisition of Heartland Homes in December 2012 further broadened NVR’s market presence.
Reflecting its growth and industry importance, NVR was added to the S&P 500 index in September 2019.
Controversies
In February 2010, Delaware’s then Attorney General of Delaware, Beau Biden, initiated a fraud lawsuit against NVR on behalf of 39 homeowners. The case accused the company of failing to deliver promised amenities—such as a clubhouse featuring a restaurant and fitness facilities—in a development located in Townsend, Delaware. The dispute was resolved in April 2010 when NVR agreed to complete the outstanding amenities and compensate homeowners for the time they paid for services that were not provided.