Centex Homes, a national home builder that has been among the top operators in central Ohio since the late 1980s, said yesterday that it is pulling out of the market.

Mike VanPamel, the company's Columbus division president, would not comment on the decision yesterday. But Centex spokesman Eric Bruner said the company is simply concentrating on more-successful markets.

"Effective immediately, the company is not investing any future capital in Columbus," Bruner said. "We believe we have great opportunities to execute future plans by reapplying resources to other operations in the company."

Bruner said Centex will complete its commitments to projects under construction in central Ohio, but it will begin paring its local work force in September.

"We will build out the remaining neighborhoods or sell developed lots to other builders where that might be appropriate," he said.

Centex is a mid-priced builder that has built thousands of houses in central Ohio and has 10 current residential developments. They range from upscale condominiums in Grove City to houses at Golf Village in Powell, where the base price tops out at $365,000.

Based in Dallas, Centex is the nation's fourth-largest home builder. It closed on more than 37,000 houses in 2006. But its most recent fiscal year, which ended March 31, wasn't memorable.

In its annual-report filing last week, Centex said its revenue decreased 6.5 percent to $12 billion. Its net earnings fell from nearly $1.3 billion to $268,366, and it posted a loss from continuing operations.

While Centex operates in 25 states, it has pulled out of other areas in recent years. It left Salt Lake City after selling 108 homes there in 2005, and it exited central South Carolina. In 2005, it sold its home-building operation in Great Britain.

Columbus' other home builders also have found the going tough recently. The two major builders, M/I Homes and Dominion Homes, last year reported that new-home contracts dipped 35 percent and 40 percent, respectively.

"The Columbus market continues to be difficult," M/I Homes Chief Financial Officer Phil Creek said. "I can't speak for Centex and their overall strategy, I just imagine it has to do with the difficult market conditions locally."

Home builders have been cutting back operations in central Ohio. Creek said permits for single-family homes in central Ohio dipped by a third to about 6,000 in 2006.

Centex for many years has been one of the top handful of builders in central Ohio.

It's been a frequent contributor to the annual Parade of Homes held by the Building Industry Association of Central Ohio. Centex offered 10 site plans at Sheffield Park in Galena, the site of last year's Parade. Centex does not have a model at this year's event, at Pinnacle in Grove City.

mpramik@dispatch.com

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