what is Home builder CP Morgan going out of business?
New home sales in the United States have tumbled to their lowest levels since 1963, and an Indianapolis home builder says it has to go out of business. Ranked as one of the nation’s 30 largest homebuilders, Carmel-based CP Morgan announced that the company will close on Friday after 26 years in business. CP Morgan, which tailored its business to first time home buyers, built 25,000 homes in Indianapolis. CP Morgan was one of Indiana’s biggest residential builders with operations stretching to North Carolina. “Right near the top in terms of homebuilders in Indiana. There was a year not long ago where they built 3,500 homes and that’s an incredible number of properties to build in one year. So they’re very significant,” said Greg Cooper, real estate agent. Morgan is the third big Indianapolis homebuilder forced out of business since Davis homes closed in July. Owner Chuck Morgan declined an on-camera interview but said in a statement that the collapse in the real estate market made it im
