Lennar Corporation (NYSE:LEN) Q3 2023 Earnings Call Transcript September 15, 2023 Operator: Welcome to Lennar’s Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the presentation, we will conduct a question-and-answer session. Today’s conference is being recorded. If you have any objections, you may disconnect at this time. […]
Large US homebuilders raise prices as existing home supply remains tight reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Publicly listed U.S. homebuilders are raising prices on new construction, taking advantage of an acute shortage of previously owned homes in the market as owners defer upgrading due to high mortgage rates. Homebuilders are enjoying this turn of events after a gnarly second-half last year, when fears of rising interest rates slowing demand had forced them to cut prices and offer incentives to boost sales. The shortages have powered homebuilders' earnings, sending their stocks soaring, with the S&P Composite 1500 Homebuilding Sub Index up 41.90% so far this year.