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We have confirmed that Ryan Homes has entered the Indianapolis market through the acquisition of over 800 foreclosed lots originally owned by CP Morgan. Interestingly, the local media has not covered this story.

CP Morgan had a long history of building homes throughout Metro Indianapolis and was the largest home builder for several years.  CP announced is was going out of business and stopping production of new houses in February, 2009.

Ryan Homes (NYSE: NVR) also has operations in Maryland, Virginia, West Virginia, Pennsylvania, New York, North Carolina, South Carolina, Ohio, New Jersey, Delaware, and Kentucky. 

Ryan will be building homes in Franklin, Greenwood, Noblesville, and Brownsburg with models opening in January.  

We will soon add Ryan to…