Signs Of Stabilization In Lennar 3Q Report

September 21, 2009 at 8:40 am  ·  Category: Macro Economics, Real Estate, Stocks

During the third quarter, the overall housing market continued its road back to recovery as more confident homebuyers took advantage of increased affordability.  While high unemployment and foreclosures will continue to present challenges, consumer sentiment has significantly improved as homebuyers have recognized that the residential housing market is stabilizing.

Stuart Miller, CEO, Lennar

Lennar’s (LEN) 3Q report out this morning supports the idea of a bottom in the lower end of the housing market.  Home deliveries, new orders and a growing backlog all suggest to me at least stabilization.  Growth and profitability, no; stabilization, yes.

len-1-year-chart

Disclosure: Top Gun has no position in Lennar (LEN) shares.

Posted by Greg Feirman  ·  Trackback URL  ·  Link
 

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