(Disclosure: Rose Law Group represents Lennar, Meritage, Taylor Morrison, and Toll Brothers.)
By Vincent Salandro | Builder
Public builders are carrying optimism into 2024 after battling with volatile interest rates in the fourth quarter of 2023. Demand cooled when mortgage rates reached levels nearing 8% in October; however, it rebounded as rates ticked down to end the calendar year, with builders seeing some demand levels above seasonal historical levels.
The strong end to 2023 coupled with underlying market fundamentals have public builders feeling 2024 can be a year of growth. Many public builders also highlighted their strong balance sheets and bottom lines, providing the flexibility to deploy capital as many are looking to expand in 2024. During earnings calls recapping the fiscal fourth quarter, public builder executives shared plans to capture market share, expand geographic footprints, and grow community count in 2024.
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