Question-and-Answer Session
Operator
Thank you. (Operator Instructions) And our first question today comes from Michael Rehaut with J.P. Morgan.
Chad Dreier - Chairman, President, and CEO
Hey, how are you? Hello?
Operator
One moment please.
Chad Dreier - Chairman, President, and CEO
Okay.
Michael Rehaut - J.P. Morgan
Hello?
Chad Dreier - Chairman, President, and CEO
Yeah, hello.
Michael Rehaut - J.P. Morgan
Yeah. Can you hear me now?
Chad Dreier - Chairman, President, and CEO
We can.
Michael Rehaut - J.P. Morgan
Great. I had this problem on the Lennar call also. I don't know what's - my phones are just -
Chad Dreier - Chairman, President, and CEO
You need to switch to Verizon.
Michael Rehaut - J.P. Morgan
There you go. First question just relates, Chad, to you mentioned some of the markets, you know, that had still turned profitable for you.
I was wondering, with these impairment charges, how much further - I mean, what needs to happen in a California or in Vegas, for example - you know, some of the real tough markets? Do these impairments get you back to a normal level of profitability, or are you still dependent on further let's say SG&A cuts or a pickup of volume?
Chad Dreier - Chairman, President, and CEO
You know, that's a good question, and if I had the perfect answer, I'd give it to you.
But I think basically in California and Vegas - that's the two you mentioned - I think you're still going to continue to see big incentives to move the houses, even if we're at a market value. I think the buyers just - it s a buyers' market still, and I think we're going to need to significant incentives to move the properties, at least in California.
In Las Vegas, we're a little closer to the market and, you know, I feel a little better about the general, I guess, marketplace in Vegas. And the prices have gone down significantly. I think you could challenge in California whether affordability is good enough yet.
So that's probably not a very clear answer.
Michael Rehaut - J.P. Morgan
No, but I appreciate the color.
Second question, just if you could give us a sense for how orders trended throughout the quarter, and if possible, maybe an early read on January?
Chad Dreier - Chairman, President, and CEO
Well, I wouldn't comment on January. You know, it's just too early and it's a long year. So on the fourth quarter, do you have any - I don't know that I would say there was any significant trend up or down from October to November to December, so nothing that would stick out that would lead you to conclude one thing or another.
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