The second quarter was a mixed bag for a quartet of publicly traded homebuilders, reflecting the meh 2025 spring home purchase season.
All four were profitable, but net income was lower compared with one year prior. The market wasn't helped by a near 14% drop in the sale of newly constructed properties (on an annualized basis) in May.
But a more recently released measurement, the Mortgage Bankers Association's Builder Application Survey, found demand for
"A cloudier economic outlook and elevated mortgage rates continues to weigh on potential buyers, while growing inventory, builder incentives, and lower prices have brought some buyers back to the market," Joel Kan, the MBA's deputy chief economist, said at the time. "As a result, we continue to see home sales ebb and flow."
These four companies are matching
"Our net sales orders in the third quarter were flat with the prior year quarter and increased 3% sequentially," David Auld, executive chairman, said in the press release. "We closed more homes than the high end of our guidance range, while maintaining a home sales gross margin of 21.8%."
Here are earnings from four other builders for the period ended June 30:
