A fast-growing rate of home deal cancellations has forced Bellevue-based Quadrant Homes to cut back its workforce.
The largest home builder in Washington state is laying off up to six percent of its workforce, according to company officials.
In a company e-mail,
Quadrant CEO Peter Orser said it is the company’s policy not to comment on personnel-related matters.
However, according to a KING-5 News report, a Quadrant e-mail said that cancellations have reached 50 percent, causing the company to slow its production from seven to five houses a day.
With an average home price of $330,000, Quadrant boasted its second-best year in the history of the company last year. The company started the year strong with nearly 800 sales in the first four months and opened six new communities throughout the Puget Sound in 2007.
Despite the huge lift to the company’s market presence, the national housing slowdown has reached Quadrant’s front doors this year.
Carrie Wood can be reached at email@example.com or 425-453-4290.