What earnings for America’s largest homebuilder reveal about the housing market

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. During the pandemic housing boom, homebuilders saw their number of unsold completed new builds dry up as overheated demand quickly absorbed almost everything for sale. That is exactly what was experienced by D.R. Horton, America’s largest homebuilder, which had just 600 unsold completed new builds for sale in fiscal Q2 2022—compared to 4,700 in its fiscal Q2 2020. However, as the pandemic housing boom ended and the market shifted, U.S. homebuilders saw their unsold new builds ...