Fort Worth, Texas-based home builder DR Horton said strong sales and a spike in orders in the first three months of the year resulted in earnings of $11.4m and its second consecutive profitable quarter. “It’s all about sales,” Donald Tomnitz, Horton’s president and CEO, told Wall Street analysts in a conference call Friday. “We are outselling and outperforming the industry. Our financial performance represented progress in this challenging” market. The company reported that in its fiscal second quarter, which ended March 31, it earned $11.4m, or $0.04 a share.
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Some housing pundits report the demand for housing is strong, while these same pundits, on another day say that we are in a housing affordability crisis. Can the two narratives be accurate at the same time? If not, which is one is true? HousingWire Columnist Logan Mohtashami takes a deeper dive.
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