Dive Brief:

• Top 10 homebuilder Taylor Morrison is shutting down its Canadian operations. The Scottsdale, AZ, builder announced this week it has sold the division to Canada’s largest homebuilder, Toronto-based Mattamy Homes, for approximately $284 million.

• About 15% of the U.S. builder’s sales were in Canada this year. The company said it will limit its future focus to U.S. markets because Canadian land prices are rising faster than home values, making its Canadian business less profitable than its U.S. operation.

• Mattamy Homes also builds in Arizona, Florida, Minnesota, and the Carolinas.

Dive Insight:

Taylor Morrison’s exit from the Canadian market—coupled with the cash it took away from the deal— puts the builder in a position to expand its U.S. operation, where it builds high-end homes in Arizona, California, Colorado, Florida, and Texas. The company closed 3,675 homes in the first three quarters of 2014, and its average selling price is $432,000.