0 minute readFort Worth, Texas-based home builder DR Horton said strong sales and a spike in orders in the first three months of the year resulted in earnings of $11.4m and its second consecutive profitable quarter. “It’s all about sales,” Donald Tomnitz, Horton’s president and CEO, told Wall Street analysts in a conference call Friday. “We are outselling and outperforming the industry. Our financial performance represented progress in this challenging” market. The company reported that in its fiscal second quarter, which ended March 31, it earned $11.4m, or $0.04 a share.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio