INDIANAPOLIS -- Indiana-based Davis Homes is pulling in the welcome mat and shutting its doors after more than 20 years in business, officials said.

In a news release Wednesday afternoon, officials said the company would cease normal business operations immediately, citing recent troubles with the housing market.

“It has been an extremely difficult process,” said Davis CEO Brad Davis in the news release. “As hard as I and our devoted management team and all employees have worked, Davis Homes could not survive a housing market that has devastated many other builders and homeowners both in Indianapolis and throughout the nation."

The company opened its doors in 1985 and has since built more than 12,000 homes in more than 80 neighborhoods across central Indiana, according to the release.

Davis customers who have homes that were built during the past 10 years will continue to receive warranty coverage under the 2-10 Warranty provided at the closing of their home, the release said.

Homeowners seeking more information are asked to visit the company's Web site, according to the release.