April 19, 2024 11:55 am
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Lennar said it can’t give a forecast because the market is so ‘uncertain’

Lennar reported strong fourth-quarter earnings on Wednesday, but deferred guidance for 2019 “until the markets further define themselves.”

“We continued to experience slower sales due to higher home prices and rising mortgage rates,” Lennar’s executive chairman said.

The homebuilder also noted “buyer expectations” were still too high.

By Yun Li | CNBC

The U.S. housing market has become so cloudy that Lennar says it can’t give investors guidance for 2019.

The second biggest homebuilder in the country by market value, second only to D.R. Horton, reported strong fourth-quarter earnings on Wednesday, but the company could only scratch its head when it comes to the future.

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