Arlington-based D.R. Horton, the country’s largest homebuilder, saw a 14% year-over-year increase in sales orders despite inflation and elevated mortgage...
The company’s net sales orders for the second fiscal quarter ending March 31 were 26,456 homes, up from 23,142 over the same period last year. That’s also a 46% increase from the 18,069 net sales reported last quarter.Brian Yarbrough, an Edward Jones analyst who closely tracks D.R. Horton, said the homebuilder continues to execute, benefitting from a lack of existing supply in the marketplace.in the Dallas-Fort Worth area, according to March 2024 data from the MetroTex Association of Realtors.
The homebuilder reported a stronger first half this year after closing on 44,525 home sales. That’s up from 36,524 reported closings during the same six-month period last year. Profit was $2.1 billion, up from $1.9 billion last year. That’s an 11% increase. While the Federal Reserve signaled rate cuts were likely in 2024, builders and others waiting for the drop got some concerning news last week.crossed the 7% threshold for the first time this year, according to Freddie Mac. Rates have remained at a two-decade high.
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