A house under construction is seen at Hawthorne Estates by D. R. Horton in Medford, New Jersey, U.S., May 23, 2022. Horton (DHI.N) said on Tuesday it expects a sequential decline in home sales in the first quarter as high mortgage rates temper demand for housing. With current 30-year fixed mortgage rates nearing 8% and home prices continuing to surge due to a shortage of units for sale, many have deferred their home buying plans. Horton said on a call with analysts, adding that it's offering mortgages in the 6% range compared to the current high rates. In the fourth quarter, D.R.

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Persons: Andrew Kelly, homebuilder D.R, Horton, DHI.N, homebuilders, D.R, Ananta Agarwal, Shinjini Organizations: Hawthorne Estates, REUTERS, Revenue, Thomson Locations: Hawthorne, Horton, Medford , New Jersey, U.S, Arlington , Texas, Bengaluru