US New-Home Sales Eased in February, Suggesting Uneven Recovery [BNN Bloomberg (Canada)]
Lennar Corporation Class A (LEN)
Last lennar corporation class a earnings: 3/19 06:00 am
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Source: BNN Bloomberg
Purchases of new single-family homes decreased 0.3% to a 662,000 annual pace last month, government data showed Monday. The median forecast of economists in a Bloomberg survey called for a rate of 677,000. Despite the drop in February, the US housing market has shown signs of a sustained comeback as mortgage rates stabilize around 7% and builders offer various incentives amid a limited listings of previously owned properties. A solid job market has also powered orders growth at builders including KBHome and Lennar Corp., suggesting residential investment will contribute to economic growth. “Buyers have largely adjusted to the rate environment and we are encouraged by the demand we're seeing that the onset of the spring selling season,” Jeffrey Mezger, KBHome's chief executive officer, said on the company's recent earnings call. The Commerce Department's report also showed the median sales price of a new house decreased 7.6% from a year ago to $400,500 in February. The supply
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- Third Avenue International Real Estate Value Fund Q1 2024 Portfolio Manager Commentary [Seeking Alpha]Seeking Alpha
LEN
Earnings
- 3/13/24 - Beat
LEN
Sec Filings
- 4/25/24 - Form 10-K/A
- 4/11/24 - Form 4
- 4/11/24 - Form 4
- LEN's page on the SEC website