(Disclosure: Rose Law Group represents D.R. Horton)
By Vincent Salandro | Builder
In a challenging market where uncertainty is causing buyers to approach the housing market more cautiously, D.R. Horton reported positive growth in home sales revenues and home closings during the builder’s fiscal third quarter. Sales revenues increased 1% to $8.7 billion while closings increased 4% to 23,983 in the quarter, ended June 30 for the No. 1 company on the 2026 Builder 100 list.
“Our teams are managing each community with discipline, balancing pace, price, incentives, and inventory levels to maximize returns,” said executive chairman David Auld. “Affordability constraints and cautious consumer sentiment continue to impact new-home demand, and we expect sales incentives to remain elevated during the fourth quarter, with incentive levels dependent on demand, mortgage rates, and other market conditions.”
Despite the positive growth in revenue and closings, profit in the quarter declined for D.R. Horton. The builder reported a profit of $904.9 million, or $3.20 per share, declines of 12% and 5%, respectively, compared to the prior-year period. The builder’s average closing price in the quarter was down 2% year over year at $362,000. According to executive vice president and chief operating officer Mike Murray, D.R. Horton’s average price is approximately 30% lower than the average price of new homes in the United States.
Lot costs were flat sequentially for D.R. Horton while stick and brick costs were 2% lower sequentially. On a year-over-year basis, D.R. Horton lowered stick and brick costs by 5%.
