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Lennar stumbles in Houston during first quarterLennar stumbles in Houston during first quarterhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=127622016-04-07T05:00:00Z

​​HOUSTON - Houston's largest homebuilder said sales incentives were up and orders for new homes were down in this area during the first quarter, a result of the region's weakening economy.

Lennar Corp. reported a 3.5 percent decline in new home orders here with sales incentives averaging $33,800 per home, compared to $22,400 a year earlier, the publicly traded builder said in a quarterly report.

For years, Lennar/Village Builders has sold more homes in the Houston area than its competition. 

Last year it had an 8.2 percent market share according to the Chronicle 100 survey of Houston's most active builders.

Revenue from home sales was up 25 percent in the first quarter to $1.8 billion from $1.4 billion in the same period a year earlier.

Home sales revenue in its Houston region was up during the quarter as a result of an increase in the average sales price of homes delivered.

Earnings, however, fell 24 percent.

Houston Chronicle
Houston-The Woodlands-Sugar Land
Housing
http://www.chron.com/business/real-estate/article/Lennar-financial-performance-weakens-in-Houston-7231620.phpRead more at the {Source}

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