Summary
Lennar, the second-largest homebuilder in the U.S., reduced its home prices by 10% in the last quarter to maintain sales amid reduced demand and affordability issues. Despite a 4% increase in the number of home deliveries, the company's revenue from home sales dropped by 7% compared to the previous year.
Key Facts
- Lennar cut average home prices by 10% in the last quarter.
- Home sales revenue decreased by 7%, from $9.5 billion to $8.9 billion.
- The number of homes delivered increased by 4% to 23,034.
- The typical price of a Lennar home dropped from $430,000 in late 2024 to $386,000 in late 2025.
- The U.S. housing market is slowing due to high home prices and borrowing costs.
- Lennar plans to deliver 17,000 to 18,000 homes in the first quarter of 2026.
- The company expects to deliver around 85,000 homes by the end of 2026.
