Reported 8 months ago
Lennar's second-quarter earnings report showed revenue of $8.77 billion, exceeding expectations, with adjusted EPS of $3.38 per share beating estimates. However, the company highlighted challenges from the mortgage rate environment. Insights from Yahoo Finance's Dani Romero suggest consumers are feeling distress, sensitive to interest rates, and expecting incentives when buying homes. Lennar cut home prices in Q2, signaling potential future trends. Analysts note mixed demand and affordability issues in the housing market, but remain optimistic about housing market growth amidst potential competition from Fed rate cuts and increased inventory.
Source: YAHOO