Backlog Value of Homes
This represents the total value of homes that have been ordered (contracts signed) but not yet completed and delivered.
The company has not yet earned revenue on its backlogged homes. This metric is useful to determine the amount of revenue that the company expects to earn in the future once it completes and sells the houses on backlog. Increasing backlog value of homes generally means that the company is either increasing its homes orders or the company is experiencing production issues.