Summary
Lennar Corp. based in Miami, is one of the two largest builders of homes based on 80,210 new home deliveries in FY24, up from 73,087 deliveries in FY23. Rival D.R. Horton actually delivered 89,690 in FY24. Lennar’s $35.4 billion in revenue ranks close to Horton’s $36.7 billion helped by an average sales price of $423,000 that is about $45,000 higher than DHI. Lennar builds homes in approximately 22 states. The company’s East region accounts for the most deliveries (27%), but the West counts for 38% of homebuilding revenue because the average closing price is $619,000. Lennar builds step-up (approximately 68% of closings), entry level (28%) and retirement (4%) homes. The company also provides mortgage financing. Lennar’s Multifamily business develops and manages apartment complexes through joint ventures. ‘Lennar Other, includes the