D.R. Horton, the largest U.S. homebuilder, reported third-quarter earnings that showed stable home sales. For Q3 2023, net new orders reached 22,879, with a slight increase projected to 23,001 in Q3 2024. However, the Southeast division, including Florida, saw a significant decline with a -10.1% drop in year-over-year net orders. Despite the overall flat performance, some investors reacted positively, buying back into homebuilder stocks after the earnings report.
D.R. Horton's net new orders increased to 23,001 in Q3 2024, showing resilience in home sales despite fluctuations in regional performances.
The Southeast division, particularly Florida, experienced a -10.1% year-over-year drop in net orders, indicating persistent weakness in that market.
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