Lennar Homes Profits – Seventh Quarter in a Row
Lennar Corporation, founded in 1954, is headquartered in Miami, Florida and is one of the nation’s leading builders of quality homes for all generations. Lennar builds affordable, move-up and retirement homes in Communities.
Lennar’s fiscal fourth-quarter net income dropped 5 percent, partly on higher expenses, but revenue rose as more homes were delivered. The company stated on Wednesday that it’s been the seventh straight quarter with a profit due to the housing market stabilizing. Stabilization is coming from the low interest rates and lower home prices per Lennar Corporation.
According to the National Association of Home Builders, each new home creates an average of three jobs and generates $90,000 in taxes.