Before you write off housing again, what does it tell you if there is another filing for an initial public offering in the housing sector? A company named Woodside Homes Inc. has filed for an initial public offering (IPO). This company claims to be one of the largest Western U.S. regional homebuilders. It is headquartered in North Salt Lake, Utah, and it develops, designs, builds, markets and sells single-family homes across seven primary markets in Arizona, California, Nevada, Texas and Utah.

No details of the IPO were shown in the filing, but it will cover up to $200 million in stock. That figure can rise or fall as it is based solely for initial filing fees.

Shares will be sold from stockholders in the offering, and Woodside will not receive any proceeds from the sale of shares by the selling stockholders. When completed, the company will be a holding company and its sole asset will be an undetermined percentage of the aggregate membership interests of Woodside Homes Company LLC. Class B common stock will have an undetermined percentage of the voting power of Woodside Inc.

Underwriters were listed as Credit Suisse, J.P. Morgan, Deutsche Bank Securities, Zelman Partners, FBR, JMP Securities and Moelis & Company.

Woodside said that it holds top ten market share position within four of its markets:

• California—Central Valley
• California—Inland Empire
• California—Sacramento
• Salt Lake City

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The company also claims to have a legacy of more than 35 years of homebuilding operations, and to have sold more than 40,000 homes. Woodside said on its finances,

During the three months ended March 31, 2014, we closed 300 homes at an average sales price of $315,000, representing an 8.7% and a 14.8% increase, respectively, over the same metrics for the three months ended March 31, 2013. In 2013, we closed 1,507 homes at an average sales price of $290,700, representing a 17.9% and 18.2% increase, respectively, over the same metrics in 2012. In addition, homebuilding revenue increased 24.8% to $94.5 million and net income increased 149.9% to $11.4 million for the three months ended March 31, 2014 compared to the prior year period, and homebuilding revenue increased 39.4% to $438.1 million and net income increased 81.2% to $32.1 million for the year ended December 31, 2013 compared to the prior year. As of March 31, 2014, we had a backlog of 420 homes sold but not closed with an associated sales value of $130.2 million and a substantial land supply in our markets of 9,634 lots owned and controlled through option or purchase agreements. Our current land position represents approximately a six-year supply of lots based upon our home closings during the twelve-month period ended March 31, 2014.

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