(Disclosure: Rose Law Group represents Lennar.)
By Builder
Lennar’s home sales revenues and deliveries declined in the builder’s first quarter as results were weighed down by constrained housing affordability, cautious consumer sentiment, and concerns stemming from geopolitical uncertainty. While the market remained “stubbornly challenging,” executive chairman and CEO Stuart Miller expressed confidence in Lennar’s focus on core operating principals and optimism for a turn in the market.
“Recently, challenges [in the housing market] seem to have intensified given the volatility and uncertainty surrounding current events in the Middle East and the recent pullback of instiutiontal purchasers as participants in the market,” Miller told investors during Lennar’s earnings call. “Even with additional hurdles, we believe we are closer to an inflexion point for Lennar than at any point in the past three years.”
