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Search resuls for: "Stuart Miller"


16 mentions found


☆ Interest rates definitely have an impact on affordability, says Lennar Co-CEO on the housing market
  + stars: | 2024-03-13 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInterest rates definitely have an impact on affordability, says Lennar Co-CEO on the housing marketCNBC's Diana Olick sits down with Stuart Miller, Lennar Co-CEO and executive chairman, to discuss Q1 quarterly results, the state of the U.S. housing market, and what's ahead for the company.
Persons: Lennar, Diana Olick, Stuart Miller
☆ Sales of newly built homes reverse course, drop nearly 9% in August
  + stars: | 2023-09-26 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Sales of newly built homes fell 8.7% in August from July, to a seasonally adjusted annualized pace of 675,000 units, according to the U.S. Census Bureau. The Census count is based on signed contracts during the month, and mortgage rates took a sharp jump higher. The median price of a newly built home sold in August was $430,300, a drop of 2% compared with August of last year. Homebuilders have been lowering prices as well as offering more incentives, like buying down mortgage rates. One of the nation's largest homebuilders, Lennar, recently reported strong earnings, but that was for a quarter where mortgage rates hadn't hit their highest yet.
Persons: Imogen Pattison, Homebuilders, Stuart Miller, Miller, Robert Dietz, NAHB's Organizations: . Census, Mortgage News, Capital Economics, National Association of Home Builders
☆ Here are the 14 stocks Jim Cramer is watching, including Apple, Goldman Sachs, Amazon
  + stars: | 2023-09-20 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Here are some of the tickers on my radar for Wednesday, Sept. 20, taken directly from my reporter's notebook:Apple Goldman Sachs CNBC reports. Club name Apple concerned about backlash. Meanwhile, UBS evidence lab shows lead time very strong for iPhone 15 and premium. Meanwhile, UBS evidence lab shows lead time very strong for iPhone 15 and premium. Seems like CEO Stuart Miller at LennarIf you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free.
Persons: Apple Goldman Sachs, Stuart Miller, Jim Cramer's Organizations: Apple, Apple Goldman Sachs CNBC, UBS, CNBC, PayPal, Pinterest Locations: Lennar
☆ Watch CNBC's full interview with Lennar's Stuart Miller
  + stars: | 2023-06-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Lennar's Stuart MillerLennar executive chairman Stuart Miller joins 'Squawk on the Street' to discuss the fundamental shortage of available housing, Lennar's decision to raise full-year forecasts for home deliveries, and rental prices moderating.
Persons: Lennar's Stuart Miller, Stuart Miller
☆ Home and rental prices are moderating despite supply problems, says Lennar's Stuart Miller
  + stars: | 2023-06-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHome and rental prices are moderating despite supply problems, says Lennar's Stuart MillerLennar executive chairman Stuart Miller joins 'Squawk on the Street' to discuss the fundamental shortage of available housing, Lennar's decision to raise full-year forecasts for home deliveries, and rental prices moderating.
Persons: Lennar's Stuart Miller, Stuart Miller
☆ Homebuilder Lennar raises full-year forecast for home deliveries
  + stars: | 2023-06-14 | by ( ) www.reuters.com   time to read: +2 min
June 14 (Reuters) - Lennar Corp (LEN.N) on Wednesday raised its full-year forecast for home deliveries, as the homebuilder benefits from upbeat demand that far outpaced supply. Homebuilders are benefiting from the lack of existing home inventory and pent up demand they were unable to meet in previous years. The perennial shortage of homes on the market is frustrating would-be buyers eager to take advantage of dips in mortgage rates. The Miami-based homebuilder raised its total home deliveries forecast for 2023 to 68,000 to 70,000 homes, up from its prior guidance of between 62,000 and 66,000 homes. The company reported a second-quarter profit of $3.01 per share, above average analysts' estimate of $2.32 per share, according to Refinitiv data.
Persons: Freddie Mac, Stuart Miller, Kannaki, Krishna Chandra Organizations: Lennar, National Association of Realtors, Thomson Locations: The Miami, Bengaluru
☆ Len is one the nations leading homebuilders
  + stars: | 2023-04-13 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Len is one the nations leading homebuildersLennar CEO Stuart Miller, speaks with "Mad Money" host Jim Cramer about the housing sector.
☆ Mortgage demand rises despite volatile interest rates
  + stars: | 2023-03-15 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Demand for mortgages increased for the second straight week, despite some volatility in mortgage rates. That was the average, but mortgage rates were largely higher for most of the week before dropping sharply Friday on news of the Silicon Valley Bank failure. Despite rates being higher, mortgage applications to purchase a home rose 7% for the week but were still 38% lower than the same week a year ago. "That always happens when rates surge and it only lasts a few weeks," said John Burns of John Burns Real Estate Consulting, who said he saw an increase in sales of newly built homes in February despite higher rates. Mortgage rates dropped further Monday, according to a separate survey from Mortgage News Daily, but bounced higher again Tuesday after the February consumer price index was released, suggesting that the Federal Reserve may raise interest rates again next week despite recent banking industry turmoil.
☆ Homebuilders say demand is rising, but they're concerned about a banking fallout
  + stars: | 2023-03-15 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +3 min
The National Association of Home Builders/Wells Fargo Housing Market Index rose two points to 44. "But given recent instability concerns in the banking system and volatility in interest rates, builders are highly uncertain about the near- and medium-term outlook." Of the index's three components, current sales conditions rose two points to 49, and buyer traffic rose three points to 31. Accordingly, the housing market continues shifting as growing household and family formation continued to drive demand against a chronic supply shortage." In the South it rose five points to 45, and in the West it moved four points higher to 34.
☆ Homebuilder Lennar beats profit estimates on strong property prices
  + stars: | 2023-03-14 | by ( ) www.reuters.com   time to read: +1 min
March 14 (Reuters) - Homebuilder Lennar Corp (LEN.N) on Tuesday reported a better-than-expected quarterly profit as high property prices helped offset supply shortages caused by rising material costs and a labor crunch. However, the industry is now staring at a slowdown as high interest rates have made borrowing more difficult for potential buyers. "Our sales volume and pricing have clearly been impacted by rising interest rates, but there remains a significant national shortage of housing, especially workforce housing, and there is still demand," Lennar Executive Chairman Stuart Miller said in a statement. Lennar reported net earnings per diluted share, excluding items, of $2.12 per share, above analysts' average estimate of $1.55 per share, according to Refinitiv data. Reporting by Priyamvada C and Kannaki Deka in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
☆ Lennar forecasts slowdown in orders for new homes, shares fall
  + stars: | 2022-12-14 | by ( ) www.reuters.com   time to read: +2 min
Dec 14 (Reuters) - Homebuilder Lennar Corp (LEN.N) on Wednesday forecast a slowdown in new orders for the first quarter as high mortgage rates make properties unaffordable for some buyers. Lennar expects new orders in the current quarter to be between 12,000 and 13,500 homes, compared with new orders for 13,200 homes in the fourth quarter. However, the U.S. Federal Reserve's aggressive monetary policy tightening to curb decades-high inflation has made borrowing more difficult for customers as mortgage rates have more than doubled since the beginning of the year. Sales of previously owned homes fell for an eighth straight month in September, while homebuilding dropped, signaling that higher mortgage rates are choking the housing market. Net income attributable to Lennar rose to $1.32 billion, or $4.55 per share, in the fourth quarter, from $1.19 billion, or $3.91 per share, a year earlier.
☆ One major homebuilder is resorting to Black Friday discounts to lure buyers back to the market
  + stars: | 2022-11-25 | by ( James Rodriguez | ) www.businessinsider.com   time to read: +3 min
Lennar, the nation's second-largest homebuilder, advertised Black Friday deals on its website. Lennar, the nation's second-largest homebuilder, advertised "Black Friday Deals on select move-in ready homes" at the top of the home page of its website as of Wednesday. Faced with the prospect of paying hundreds of dollars more for a mortgage each month, buyers retreated from the market in droves. Horton, the nation's largest homebuilder, said it was scaling back its production and offering more incentives to buyers to keep deals going. Buyers have continued to pull out of the market amid persistent inflation and high home prices.
☆ Lennar, ICON partner to build largest 3D-printed neighborhood
  + stars: | 2022-11-10 | by ( Diana Olick | ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLennar, ICON partner to build largest 3D-printed neighborhoodStuart Miller, executive chairman at Lennar, joins CNBC's Diana Olick to discuss the company's new partnership with Icon to discuss the home building company's first 3D-printed community.
☆ Take a look inside the only large-scale 3D printed housing development in the U.S.
  + stars: | 2022-11-10 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Just outside Austin, Texas, massive machines are squeezing out 100 three- and four-bedroom homes, in the first major housing development to be 3D-printed on site. One of the nation's largest homebuilders, Lennar, is partnering with ICON, a 3D printing company, to develop the project. Lennar was an early investor in ICON, which has printed just about a dozen homes in Texas and in Mexico. "I think the sort of Holy Grail is where one person can watch a dozen systems you need one person to watch a dozen systems," Ballard said. The main squeezeAn ICON 3D printer at a housing development in Georgetown, TX.
☆ Cooling demand means raising prices becomes a test of how well companies know their customers
  + stars: | 2022-09-28 | by ( Robert Hum | ) www.cnbc.com   time to read: +6 min
As the country reopened after pandemic closures, price hikes were essentially a sure bet. Will those price hikes be as big in magnitude as previous ones? Or do companies attempt to stimulate sales by cutting prices — but at the risk of eroding margins? On Thursday afternoon, it will be worth keeping a close eye on Micron and Nike to see what they have to say about pricing, margins and demand dynamics. Given the current situation, don't rule out future price hikes too from the food maker.
☆ Rising mortgage rates hit home builders as buyers pull back
  + stars: | 2022-09-22 | by ( Paul R. La Monica | Cnn Business | ) edition.cnn.com   time to read: +1 min
Mortgage rates have also skyrocketed to their highest level in 14 years. "Sales have clearly been impacted by rising interest rates," Stuart Miller, Lennar's executive chairman, said in the company's earnings release. Miller added that "there remains a significant national shortage of housing, especially workforce housing, and demand remains strong." Lennar also reported that orders for new homes fell 12% from a year ago and that it is trying to "navigate the rebalance between price and interest rates." Mortgage rates are likely to head even higher given the Federal Reserve's series of big interest rate increases and likely plans for even more hikes in the coming months.
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