The largest U.S. homebuilder offered up the latest examples of how quickly buyers are fleeing the housing market.
Buyers canceled nearly a third of deals in D.R. Horton Inc.’s (DHI) fiscal fourth quarter, up from 19% a year ago, the Texas-based company said Wednesday. New orders declined 15% to 13,582 homes from a year earlier, down by 10% in value.
The company is responding by walking away from land deals that don’t meet certain metrics as the market has shifted, writing off $34 million of…
Source link
