BIRMINGHAM, Ala., May 20, 2010 (GLOBE NEWSWIRE) -- Four Star Holdings, Inc. (OTCBB:FSTH) is optimistic due to recent reports of a 50% increase in home sales in March.
According to the Alabama Center for Real Estate's monthly home sales report, the total number of homes sold during the month of March showed a 49% increase over sales from February and a 14% increase over February of the previous year.
Fran Mize, President of Four Star Holdings, Inc. stated, "With increases of these magnitudes showing up before the seasonal increases that are usually seen in the summer months, we are encouraged that this could lead to sales above our original yearly projections."
March's median sales price rose 9% while the average selling price rose more than 12%. ACRE's report also noted increased sales in almost every major metropolitan area of the state.
ABOUT FOUR STAR HOLDINGS, INC
Four Star Holdings, Inc. (OTCBB:FSTH), operates as the 4th largest homebuilding company in the Birmingham, Alabama area, closely competing with D.R. Horton (NYSE:DHI), Hovnanian Enterprises, Inc (NYSE:HOV) and HPH Homes, LLC as a fully integrated builder and developer. The company operates in three segments, Land Development, Structural Community Planning including Homebuilding, and Realty Brokerage Services. The corporation is headquartered in Odenville, Alabama.
SAFE HARBOR STATEMENT
This Press Release contains or incorporates by reference "Forward-looking statements," including certain information with respect to plans and strategies of Four Star Holdings, Inc. For this purpose, any statements regarding this announcement, which are not purely historical, are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including Four Star Holdings, Inc. beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to Four Star Holdings, Inc. as of such date. There are a number of important factors that could cause actual events or actual results of Four Star Holdings, Inc. and its subsidiaries to differ materially from those indicated by such forward-looking statement.