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| D.R. Horton sells more homes than any other builder  Top US home builder D.R. Horton, Inc. reported net sales orders for the second quarter ended March 31, 2007 of 9,983 homes ($2.6 billion), compared to 15,771 homes ($4.4 billion) for the same quarter of fiscal 2006. Net sales orders for the first six months of fiscal 2007 were 18,754 homes ($4.9 billion), compared to 27,234 homes ($7.5 billion) for the same period of fiscal 2006. The company's cancellation rate (sales orders cancelled divided by gross sales orders) for the second quarter of fiscal 2007 was 32%.Donald R. Horton, Chairman of the Board, said, "Market conditions for new home sales continue to be challenging in most of our markets as inventory levels of both new and existing homes remain high. Our cancellation rate is essentially unchanged from the prior quarter, but it remains above our historical range as we continue to see an increase in the use of sales incentives in many of our markets. We continue to sell more homes than any other builder, even though the spring selling season has not gotten off to its usual strong start." D.R. Horton is engaged in the construction and sale of high quality homes with sales prices ranging from $90,000 to over $900,000. write your comments about the article :: © 2007 Construction News :: home page |