UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 11-K

(Mark One)

þ		ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (FEE REQUIRED)

For the fiscal year ended December 31, 2008

o		TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)

For the transition period from                      to                                         

Profit Sharing Plan of NVR, Inc. and Affiliated Companies

(Full name of the Plan)

NVR, Inc.
11700 Plaza America Drive, Suite 500
Reston, Virginia 20190
(703) 956-4000
(Name of issuer of securities held pursuant to the Plan and the address and phone number of its principal executive offices)

 

 

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES

Form 11-K
INDEX

		Page
Report of Independent Registered Public Accounting Firm			1
Financial Statements:
Statements of Net Assets Available for Plan Benefits as of December 31, 2008 and 2007			2
Statement of Changes in Net Assets Available for Plan Benefits for the Year Ended December 31, 2008			3
Notes to Financial Statements			4
Supplemental Schedules:
Schedule H, Line 4(i) — Schedule of Assets (Held at End of Year) December 31, 2008			12
Schedule H, Line 4(j) — Schedule of Reportable Transactions			15
Signatures			16
Index to Exhibits			17
EX-23.1

Report of Independent Registered Public Accounting Firm

Profit Sharing Trust Committee
NVR, Inc. and Affiliated Companies:

We have audited the accompanying statements of net assets available for plan benefits of the Profit Sharing Plan of NVR, Inc. and Affiliated Companies (the Plan) as of December 31, 2008 and 2007, and the related statement of changes in net assets available for plan benefits for the year ended December 31, 2008. These financial statements are the responsibility of the Plan’s Administrator. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the Plan’s Administrator, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits of the Profit Sharing Plan of NVR, Inc. and Affiliated Companies as of December 31, 2008 and 2007 and the changes in net assets available for plan benefits for the year ended December 31, 2008 in conformity with U.S. generally accepted accounting principles.

Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules, Schedule H, line 4i schedule of assets (held at end of year) as of December 31, 2008, and Schedule H, line 4j schedule of reportable transactions for the year ended December 31, 2008, are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These supplemental schedules are the responsibility of the Plan’s Administrator. These supplemental schedules have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole.

/s/ KPMG LLP

McLean, VA
June 29, 2009

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
Statements of Net Assets Available for Plan Benefits
(in thousands)

		December 31,
		2008				2007
Assets
Investments:
Plan interest in master trust, at fair value		$	174,359			$	257,206
Loans to participants			4,163				4,524
Receivables:
Employee contributions			10				—
Interest, dividends and other			2				77
Total receivables			12				77
Total assets			178,534				261,807
Liabilities
Due to participants			324				368
Total liabilities			324				368
Net assets reflecting all investments at fair value			178,210				261,439
Adjustment from fair value to contract value for fully benefit-responsive investment contracts			1,237				193
Net assets available for plan benefits		$	179,447			$	261,632

See accompanying notes to financial statements.

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
Statement of Changes in Net Assets Available for Plan Benefits
For the Year Ended December 31, 2008
(in thousands)

Additions to (reductions from) net assets attributable to:

Participation in investment income of master trust:
Net depreciation in fair value of investments		$	(75,236	)
Interest and dividends			4,046
			(71,190	)
Contributions:
Employee			15,383
Employer			1,427
Rollovers			223
			17,033
Total additions (reductions)		$	(54,157	)
Deductions from net assets attributable to:
Benefits paid to participants			(28,004	)
Administrative expenses			(24	)
Total deductions			(28,028	)
Net decrease in assets available for plan benefits			(82,185	)
Net assets available for plan benefits at beginning of year			261,632
Net assets available for plan benefits at end of year		$	179,447

See accompanying notes to financial statements.

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
Notes to Financial Statements
December 31, 2008
(dollars in thousands)

1.		Description of Plan and Benefits
		The following description of the Profit Sharing Plan of NVR, Inc. and Affiliated Companies (the “Plan” or “PSP”) provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan’s provisions.
		General
		The Plan is a defined contribution, profit-sharing retirement plan, and covers substantially all employees of NVR, Inc. and its affiliated companies (“NVR” or “the Company”). The Plan is administered by a Profit Sharing Trust Committee (the “Plan Administrator”), which is designated by the Board of Directors of NVR, Inc. (the “Board”). The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).
		The Plan Year begins each January 1st and ends each December 31st.
		Employee Eligibility
		All full-time and part-time employees are eligible to participate in the Plan immediately upon employment. The Plan excludes any employee covered by a collective bargaining agreement negotiated in good faith with the Company and leased employees.
		Contributions
		The Plan provides for eligible Plan participants to make voluntary salary deferral contributions (VSDC) from 1% to 13% of their current salary on a combined pre-tax and post-tax basis into the Plan for investment. All investment funds provided in the Plan are available for employee VSDC. A participant’s pre-tax deferral was limited to a maximum contribution of $15.5 during both 2008 and 2007. Participants may change their salary deferral percentages periodically, but participants generally cannot withdraw fund balances before termination, retirement, death or total permanent disability unless certain hardship conditions exist.
		As a result of the Economic Growth and Tax Relief Reconciliation Act of 2001, the Plan was amended to allow participants the option of making “catch-up” contributions to the Plan. Participants who reached age 50 or older before the close of the calendar year and have deferred the maximum amount allowed under the Plan, have the option to make additional pre-tax salary deferrals. The maximum “catch-up” contribution for both 2008 and 2007 was $5.
		In accordance with the Plan, the Company may declare a program of matching contributions. In 2008 and 2007, the Company matched up to the first five hundred dollars of individual participants’ VSDC. NVR contributed $1,427 in matching contributions during 2008, all but $0.2 of which was contributed prior to December 31, 2008. Matching contributions are invested in participant’s accounts in the Plan as directed by participants.

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
Notes to Financial Statements
December 31, 2008
(dollars in thousands)

		Vesting and Forfeitures
		Employees vest in Company matching contributions contributed prior to January 1, 2002 at the rate of 20% per year beginning with the completion of their third year of service. Company matching contributions made after December 31, 2001 vest at the rate of 20% per year beginning with the completion of the second year of service. Full vesting is also attained upon an employee’s termination on account of death or total disability, or upon reaching normal retirement age. Participants are fully vested at all times in their VSDC account balances. Forfeitures of unvested amounts relating to terminated employees are allocated annually to the remaining participants in the Plan as of December 31, based upon the proportion that the participant’s compensation for that Plan Year bears to the total compensation received for such year by all participants sharing in the allocation, subject to the annual addition limitation and nondiscrimination requirement imposed under the Internal Revenue Code. Forfeitures of $223 in 2008 were allocated to participant accounts in 2009.
		Investment Options
		The Company selects the number and type of investment options available. The Plan’s recordkeeper (“Recordkeeper”) is responsible for maintaining an account balance for each participant. Each participant instructs the Recordkeeper how to allocate their account balances. The Recordkeeper values account balances daily. Each fund’s income and expenses are allocated to participant accounts daily in relation to their respective account balances. Each account balance is based on the value of the underlying investments in each account. Generally, participants may elect to change how future contributions are allocated or may transfer current account balances among investment options.
		Payments of Benefits
		Depending on various provisions and restrictions of the Plan, the method of benefit payment can be in the form of a lump-sum distribution or based on a deferred payment schedule. Amounts remaining in the Plan as a result of deferred payments are subject to daily fluctuations in value based on the underlying investments in each account.
		Participant Loans
		Loans are made available to all participants on a nondiscriminatory basis in accordance with the specific provisions set forth in the Plan. The amount of a loan generally cannot exceed the lesser of $50 or one-half of a participant’s total vested account balance. Generally, a loan bears interest at a fixed rate which is determined by the Profit Sharing Trust Committee. Such rate was prime plus 1% set at the date of loan origination for Plan Years 2008 and 2007. All loans are subject to specific repayment terms and are secured by the participant’s nonforfeitable interest in his/her account equivalent to the principal amount of the loan. Participants must pay any outstanding loans in full upon termination of service with the Company. Loans not repaid within the timeframe specified by the Plan subsequent to termination are considered to be in default and treated as a distribution to the terminated participant. Participant loans are recorded at cost, which approximates fair value.

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
Notes to Financial Statements
December 31, 2008
(dollars in thousands)

		Administrative Expenses
		Loan origination fees and trustee fees are paid by the Plan. All other administrative expenses are paid directly by the Company.
2.		Summary of Significant Accounting Policies
		Basis of Presentation
		The accompanying financial statements have been prepared on the accrual basis of accounting.
		Investment Income
		Interest income from investments is recorded on the accrual basis of accounting. Dividend income is recorded on the ex-dividend date. Gains or losses on sales of investments are based on the change in market values since the beginning of the Plan Year, or their acquisition date if purchased during the Plan Year.
		Investment Valuation and Transactions
		All investments are carried at fair value except for fully benefit-responsive investment contracts. As described in Financial Accounting Standards Board Staff Position, FSP AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-responsive Investment Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans (the “FSP”), investment contracts held by a defined-contribution plan are required to be reported at fair value. However, contract value is the relevant measurement attribute for that portion of the net assets available for plan benefits of a defined-contribution plan attributable to fully benefit-responsive investment contracts because contact value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. The Statement of Net Assets Available for Plan Benefits adjusts the fair value of the investment contract from fair value to contract value.
		Net unrealized appreciation and depreciation is measured and recognized in the Statement of Changes in Net Assets Available for Plan Benefits as the difference between the fair value of investments remeasured at the financial statement date and the fair value at the beginning of the Plan Year or the original measurement at the investment purchase date if purchased during the Plan Year. Purchase and sale transactions are recorded on a trade-date basis.
		On January 1, 2008, the Plan adopted Statement of Financial Accounting Standards (“SFAS”) No. 157, Fair Value Measurements. SFAS No. 157 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability, in an orderly transaction between market participants at the measurement date. The adoption of SFAS No. 157 did not have a significant impact on the Plan’s financial statements.
		SFAS No. 157 also establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Plan’s assumptions (unobservable inputs). The hierarchy consists of three levels:

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
Notes to Financial Statements
December 31, 2008
(dollars in thousands)

Level 1 — Quoted market prices in active markets for identical assets or liabilities.

Investments in mutual funds, shares of the Company’s common stock and other common shares are valued using quoted prices in active markets.

Level 2 — Inputs other than Level 1 inputs that are either directly or indirectly observable.

Investments in a common collective trust (the Fund) are valued using the net asset value (NAV) provided by the Trustee. The NAV is quoted in a private market, and is based on the value of the underlying assets owned by the Fund, which are traded in an active market. These investments are redeemeable with the Fund at contract value under the Fund’s terms of operations. It is possible that these redemption rights may be restricted by the Fund in the future in accordance with the terms. Due to the nature of the investments held by the fund, changes in market conditions and the economic environment may significantly impact the net asset value of the fund, and the Plan’s interest in the Fund.

The Financial Accounting Standards Board recently added a project to its agenda to provide guidance on applying fair value to investments in alternative investment funds. The guidance resulting from this project may impact the carrying amount of such investments in future periods.

Level 3 — Unobservable inputs developed using estimates and assumptions developed by the Plan, which reflect those a market participant would use.

The Plan has no investments valued using Level 3 inputs.

The following table presents the financial instruments the Plan measures at fair value on a recurring basis, based on the fair value hierarchy:

		Fair Value at December 31, 2008
		Using Inputs Considered as
		Level 1				Level 2				Level 3				Total
Fair Value Measurements:
Investments in Registered Investment Companies		$	102,846				—				—				102,846
NVR, Inc. common stock			46,082				—				—				46,082
Investments in Common Collective Trusts			—				22,934				—				22,934
Other common stock			1,018				—				—				1,018
Interest-bearing cash			1,479				—				—				1,479
Total		$	151,425				22,934				—				174,359

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
Notes to Financial Statements
December 31, 2008
(dollars in thousands)

		Payments of Benefits
		Benefits are recorded as deductions when paid. At December 31, 2008 and 2007, refunds of $324 and $368, respectively, were due to participants for excess contributions made during the Plan Year and are reflected as a reduction of employee contributions in the Statement of Changes in Net Assets Available for Plan Benefits.
		Use of Estimates in Preparation of Financial Statements
		The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires the Plan Administrator to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of Plan activity during the reporting period. Accordingly, actual results may differ from those estimates.
3.		Investments
		The investments of the Plan are maintained in a master trust with the investments of the NVR, Inc. and Affiliated Companies Employee Stock Ownership Plan (“ESOP”). The Plan’s share of changes in the master trust and the value of the master trust have been reported to the Plan by the Trustee as having been determined through the use of fair values for all investments, except for fully benefit-responsive investment contracts which are adjusted from fair value to contract value. See footnote 2 for further discussion of fully benefit-responsive investment contracts. The undivided interest of each Plan in the master trust is increased or decreased (as the case may be) (i) for the entire amount of every contribution received on behalf of the Plan, every benefit payment, or other expense attributable solely to such Plan, and every other transaction relating only to such Plan; and (ii) for accrued income, gain or loss, and administrative expense attributable solely to such Plan. The Plan’s interest in the master trust was approximately 42% and 46% as of December 31, 2008 and 2007, respectively.
		The following table presents the investments in the master trust at fair value for all investments except for fully benefit-responsive investment contracts which are presented at contract value:

		December 31,
		2008				2007
NVR, Inc. common stock		$	250,948			$	341,780
Investments in Registered Investment Companies			122,907				193,947
Investments in Common Collective Trusts			37,544				25,927
Other common stock			1,037				1,294
Interest-bearing cash			1,483				1,395
Total		$	413,919			$	564,343

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
Notes to Financial Statements
December 31, 2008
(dollars in thousands)

The interests of each the PSP and ESOP participating in the master trust investments at December 31, 2008 and 2007 were as follows:

		2008				2007
NVR, Inc. and Affiliated Companies Employee Stock Ownership Plan		$	238,323			$	306,944
Profit Sharing Plan of NVR, Inc. and Affiliated Companies			175,596				257,399
Investments in master trust		$	413,919			$	564,343

Net investment income (loss) for the master trust for the year ended December 31, 2008 was as follows:

Net investment loss due to depreciation of common stock		$	(34,589	)
Net investment loss due to depreciation in investments in Registered Investment Companies			(84,123	)
Interest			14
Dividends			5,302
Net investment loss in master trust		$	(113,396	)

The interest of each the PSP and ESOP participating in the net investment loss in the master trust for the year ended December 31, 2008, was as follows:

NVR, Inc. and Affiliated Companies Employee Stock Ownership Plan		$	(42,206	)
Profit Sharing Plan of NVR, Inc. and Affiliated Companies			(71,190	)
Net investment loss in master trust		$	(113,396	)

The income allocation variance between the PSP and ESOP is driven primarily by the investment mix within the respective plans. The ESOP requires holdings to be predominately invested in NVR, Inc. common stock; whereas the PSP has no similar requirements and thus holdings within the PSP are diversified among multiple investments.

The current value of the investments of the master trust attributable to the Plan which represent 5 percent or more of the Plan’s net assets at the end of each year, were as follows:

		December 31,
		2008				2007
Registered Investment Companies:
Fidelity Equity Inc. II Fund		$	13,958			$	26,879
Fidelity Growth Company Fund			26,914				27,057
Fidelity Diversified International Fund			11,355				25,621
Fidelity Balanced Fund			13,002				20,404
Common Collective Trust:
Fidelity Managed Income Portfolio Fund (1)		$	24,171			$	17,959

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
Notes to Financial Statements
December 31, 2008
(dollars in thousands)

		December 31,
		2008				2007
Employer securities:
NVR, Inc. Common Stock		$	46,082			$	79,668

4.		Tax Status
		The Plan received its latest determination letter on February 17, 2000 which stated that the Plan is qualified under section 401(a) of the Internal Revenue Code (the “Code”) and its related Trust is exempt from tax under section 501(a) of the Code. The Plan has been amended since receiving the determination letter; however, in the opinion of the Plan Administrator, the Plan and its underlying Trust have operated within the terms of the Plan and remain qualified under the applicable provisions of the Code.
5.		The Stable Value Fund
		The Plan invests in fully benefit-responsive synthetic guaranteed investment contracts (“GICs”) as part of offering the Managed Income Portfolio Fund (the “Fund”). Contributions to this fund are invested in a portfolio of high quality short- and intermediate-term U.S. bonds, including U.S. government treasuries, corporate debt securities, and other high-credit quality asset-backed securities.
		Participant accounts in the Fund are credited with earnings on the underlying investments and charged for participant withdrawals and administrative expenses. The GIC issuer is contractually obligated to repay the principal and a specified interest rate that is guaranteed to the Plan. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value.
		As discussed in footnote 2, because the GICs are fully benefit-responsive, contract value is the relevant measurement attribute for that portion of the net assets available for benefits attributable to the GICs. The average yield of the Fund based on actual earnings was 3.57% and 4.82% at December 31, 2008 and 2007, respectively. The average yield of the Fund based on interest rate credited to participants was 3.04% and 4.40% at December 31, 2008 and 2007, respectively.
6.		Plan Termination
		Although it has not expressed any intent to do so, the Plan Administrator has the right under the Plan to discontinue contributions at any time and terminate the Plan subject to the provisions of ERISA. In the event of a Plan termination, partial Plan termination or if the Sponsor suspends contributions indefinitely, affected participants will become fully vested in their accounts.

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
Notes to Financial Statements
December 31, 2008
(dollars in thousands)

7.		Parties-In-Interest
		At December 31, 2008 and 2007, Plan investments of $115,944 and $157,353, respectively, are with parties-in-interest as they are investment funds of the Trustee and Recordkeeper, Fidelity Management Trust Company and Fidelity Investments Institutional Operations Company, Inc.
		At December 31, 2008 and 2007, investments held by the Plan included 101,002 shares and 152,038 shares of NVR, Inc. common stock, with a fair value of approximately $46,082 and $79,668, respectively. These qualify as exempt parties-in-interest transactions.
8.		Reconciliation of Financial Statements to Form 5500
		The following is a reconciliation from the financial statements to the Form 5500 of net assets available for plan benefits (in thousands):

		December 31,
		2008				2007
Net assets available for plan benefits as reported in the financial statements		$	179,447			$	261,632
Fully benefit responsive investment contracts (1)			(1,237	)			(193	)
Deemed distributions (2)			(85	)			(33	)
Net assets available for plan benefits as reported in the Form 5500		$	178,125			$	261,406

The following is a reconciliation from the financial statements to the Form 5500 of benefits paid to participants (in thousands):

		Year ended
		December 31, 2008
Benefit payments to participants as reported in the financial statements		$	28,004
Deemed distributions, net			52
Benefit payments to participants as reported in the Form 5500		$	28,056

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
EIN: 54-1394360
Plan Number: 333
Schedule H, Line 4(i) — Schedule of Assets (Held at End of Year)
December 31, 2008
(Dollars in thousands)

		Column B
		Identity of issue, borrower,		Column C		Column D
Column A		lessor, or similar party		Description of investment		Fair Value
		Registered Investment Companies
*		Fidelity Growth Company		Registered investment company — 549,704 shares		$	26,914
*		Fidelity Balanced Fund		Registered investment company — 990,990 shares			13,002
*		Fidelity Equity Inc. II		Registered investment company — 1,048,271 shares			13,963
*		Fidelity Diversified Int’l		Registered investment company — 527,915 shares			11,355
*		Fidelity Mid-Cap Stock Fund		Registered investment company — 389,471 shares			6,080
*		Fidelity Freedom Income		Registered investment company — 113,117 shares			1,081
*		Fidelity Freedom 2000		Registered investment company — 65,388 shares			657
*		Fidelity Freedom 2005		Registered investment company — 3,574 shares			30
*		Fidelity Freedom 2010		Registered investment company — 113,938 shares			1,180
*		Fidelity Freedom 2015		Registered investment company — 73,058 shares			625
*		Fidelity Freedom 2020		Registered investment company — 419,290 shares			4,214
*		Fidelity Freedom 2025		Registered investment company — 134,481 shares			1,107
*		Fidelity Freedom 2030		Registered investment company — 239,545 shares			2,338
*		Fidelity Freedom 2035		Registered investment company — 117,353 shares			942
*		Fidelity Freedom 2040		Registered investment company — 578,665 shares			3,235
*		Fidelity Freedom 2045		Registered investment company — 62,217 shares			409
*		Fidelity Freedom 2050		Registered investment company — 64,238 shares			415
*		Fidelity Total Bond		Registered investment company — 116,764 shares			1,074
		Spartan US Equity Index Fund		Registered investment company — 186,769 shares			5,958
*		Fidelity Managed Income Portfolio		Registered investment company — 24,171 shares			22,934
*		Fidelity Low Priced Stock Fund		Registered investment company — 136,071 shares			3,146
		RS Emerging Growth A		Registered investment company — 94,953 shares			2,098
		ABF Sm Cap Val PA		Registered investment company — 220,940 shares			2,545
		Aberdeen Int’l Equity		Registered investment company — 366 shares			3
		Arisan International		Registered investment company — 2,055 shares			31
		Dodge & Cox International Stock Fund		Registered investment company — 1,302 shares			28
*		Fidelity Canada		Registered investment company — 74 shares			3
*		Fidelity Small Cap Independence		Registered investment company — 22 shares			—
*		Fidelity Int’l Real Estate Fund		Registered investment company — 314 shares			2
		American Fundamental Investors Class C		Registered investment company — 68 shares			2
		Janus Strategic Value Fund		Registered investment company — 986 shares			9
		Munder Midcap Select CL II		Registered investment company — 108 shares			2
		T Rowe Price International Japan		Registered investment company — 281 shares			2
		T Rowe Price Emerg Euro & Mediterranean		Registered investment company — 116 shares			1
		Third Avenue Value		Registered investment company — 82 shares			3
		Third Avenue Small Cap Value		Registered investment company — 125 shares			2
		Vanguard Energy		Registered investment company — 110 shares			5
		Vanguard Specialized Gold & Prec Metals		Registered investment company — 442 shares			5
		Vanguard Windsor II		Registered investment company — 19,823 shares			379
						$	125,779

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
EIN: 54-1394360
Plan Number: 333
Schedule H, Line 4(i) — Schedule of Assets (Held at End of Year)
December 31, 2008
(Dollars in thousands)

Column B

Identity of issue, borrower,

Column C

Column D

Column A

lessor, or similar party

Description of investment

Fair Value

Employer Securities

*

NVR, Inc.

NVR, Inc. common stock — 101,002 shares

$

46,082

Common Stocks

Frontline LTD

Shares of stock — 450 shares

$

13

Fortescue Metal Grp LTD

Shares of stock — 107 shares

—

Seaspan Corp

Shares of stock — 229 shares

2

Star Bulk Carriers Corp

Shares of stock — 1,051 shares

3

Alcoa Inc.

Shares of stock — 191 shares

2

Anadigics Inc

Shares of stock — 1,100 shares

2

Anthracite Cap Inc.

Shares of stock — 1,347 shares

3

Apple Computer Inc.

Shares of stock — 125 shares

11

BP PLC

Shares of stock — 225 shares

10

Bank of America Corp

Shares of stock — 361 shares

5

Berkshire Hathaway Inc

Shares of stock — 20 shares

64

Boeing Co

Shares of stock — 328 shares

14

Boston Scientific

Shares of stock — 1,000 shares

8

Brookfield Asset Management

Shares of stock — 500 shares

8

Cit Group Inc New Com

Shares of stock — 760 shares

3

Canadian Gen Invts LTD

Shares of stock — 215 shares

2

Caterpillar Inc.

Shares of stock — 107 shares

5

Chesapeake Energy Corporation

Shares of stock — 1,016 shares

16

Chipotle Mexican Grill Inc.

Shares of stock — 35 shares

2

Cisco Sys. Inc.

Shares of stock — 2,000 shares

33

Citigroup Inc.

Shares of stock — 224 shares

1

Crocs Inc.

Shares of stock — 657 shares

1

Diamond Offshore Drilling Inc.

Shares of stock — 100 shares

6

Dow Chemical Co.

Shares of stock — 125 shares

2

Extreme Networks Inc.

Shares of stock — 1,000 shares

2

Exxon Mobile Corp.

Shares of stock — 561 shares

45

Finisar Corp.

Shares of stock — 3,000 shares

1

Ford Motor Co.

Shares of stock — 240 shares

1

Galloway Energy Co.

Shares of stock — 7 shares

—

Gardner Denver Inc.

Shares of stock — 190 shares

4

General Electric Co.

Shares of stock — 821 shares

13

Genoil Inc.

Shares of stock — 20,000 shares

3

Graco, Inc.

Shares of stock — 773 shares

18

Great Wolf Resorts Inc.

Shares of stock — 1,000 shares

2

Halliburton Co. Holding Co Family

Shares of stock — 814 shares

15

Intel Corp

Shares of stock — 2,440 shares

36

Ishares Inc MSCI Singapore Index

Shares of stock — 213 shares

1

Ishares Inc MSCI Japan Index

Shares of stock — 368 shares

4

Johnson & Johnson

Shares of stock — 1,287 shares

77

Legg Mason

Shares of stock — 361 shares

8

Linn Energy LLC

Shares of stock — 440 shares

7

Lundin Mng Corp

Shares of stock — 1,630 shares

2

McDonalds Corp

Shares of stock — 105 shares

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
EIN: 54-1394360
Plan Number: 333
Schedule H, Line 4(i) — Schedule of Assets (Held at End of Year)
December 31, 2008
(Dollars in thousands)

		Column B
		Identity of issue, borrower,		Column C		Column D
Column A		lessor, or similar party		Description of investment		Fair Value
		Medtronic Inc.		Shares of stock — 519 shares		$	16
		Microsoft Corp.		Shares of stock — 1,055 shares			21
		NYSE Euronext		Shares of stock — 64 shares			2
		National City Corp.		Shares of stock — 60,258 shares			109
		National Oilwell Inc.		Shares of stock — 206 shares			5
		Nike, Inc.		Shares of stock — 489 shares			25
		Novartis AG ADR		Shares of stock — 523 shares			26
		Paragon Shipping Inc.		Shares of stock — 550 shares			3
		Patterson Companies, Inc.		Shares of stock — 300 shares			6
		Procter & Gamble Co.		Shares of stock — 794 shares			49
		Proshares TR		Shares of stock — 85 shares			3
		Resesola LTD		Shares of stock — 250 shares			1
		Research In Motion		Shares of stock — 40 shares			2
		SPDR Gold TR Gold Shares		Shares of stock — 690 shares			60
		Sirius XM Radio Inc.		Shares of stock — 1,000 shares			—
		Starbucks Corp.		Shares of stock — 200 shares			2
		Tesoro Petroleum		Shares of stock — 205 shares			3
		TEVA Pharmaceutical INDS LTD		Shares of stock — 1,056 shares			45
		Unilever PLC		Shares of stock — 214 shares			5
		United Technologies Corp		Shares of stock — 552 shares			30
		Unitedhealth Group		Shares of stock — 601 shares			16
		Visa Inc.		Shares of stock — 200 shares			10
		Wells Fago & Co		Shares of stock — 843 shares			25
		XTO Energy Inc		Shares of stock — 500 shares			18
		Zimmer Holdings, Inc.		Shares of stock — 259 shares			10
		Put (Leap 2010) WRV Citigroup Inc.		Shares of stock — 25 shares			11
		Put (Leap 2010) WD Powershares QQQ		Shares of stock — 10 shares			11
		Put (OZC) Powershares QQQ		Shares of stock — 50 shares			14
		Put (Leap 2003) VPR Starbucks Corp.		Shares of stock — 30 shares			19
		Put (SQX) Starbucks Corp.		Shares of stock — 25 shares			4
		Annaly Mortgage Management Inc		Shares of stock — 500 shares			8
		Brookfield Infrastructure		Shares of stock — 20 shares			—
						$	1,021
		Interest-bearing cash		Cash held for pending investments and participant
				distributions in interest-bearing call accounts		$	1,477
*		Participant loans - other		Participant loans with various rates of interest
				From 4.25% to 10.50% and maturity dates
				through June 2023.		$	4,078
						$	178,437

PROFIT SHARING PLAN OF
NVR, INC. AND AFFILIATED COMPANIES
EIN: 54-1394360
Plan Number: 333

Schedule H, Line 4(j) — Schedule of Reportable Transactions
Year ended December 31, 2008
(Dollars in thousands)

Series of Transactions

														Total				Total								Total
Identity of						Number of				Number of				dollar value				dollar value				Total				realized
party involved		Description of asset				purchases				Sales				of purchases				of sales				Cost				gain
NVR, Inc.		Common stock					0				229			$	0			$	13,599			$	3,560			$	10,039
Fidelity managed income portfolio		Registered investment company					242				0			$	13,128			$	0			$	0			$	0

SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Plan Administrator has duly caused this annual report to be signed on behalf of the Plan by the undersigned thereunto duly authorized.

June 29, 2009

EXHIBIT INDEX

Exhibit
Number		Description
23.1		Consent of Independent Registered Public Accounting Firm