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Stock impact report

CEO of $39 billion homebuilding empire says spring selling season is suppressed because of plummeting consumer confidence and affordability constraints [Yahoo! Finance]

D.R. Horton, Inc. (DHI) 
Last d.r. horton, inc. earnings: 4/28 06:30 am Check Earnings Report
US:NYSE Investor Relations: investor.drhorton.com
Company Research Source: Yahoo! Finance
The homebuilder now anticipates revenues between $33.3 billion to $34.8 billion—in the prior quarter, it anticipated revenues between $36 billion to $37.5 billion. The housing market revival we're all waiting for is delayed once again. “This year's spring selling season started slower than expected, as potential homebuyers have been more cautious due to continued affordability constraints and declining consumer confidence,” Paul Romanowski, CEO of D.R. Horton , the largest homebuilder in the country, said on an earnings call Thursday morning. Romanowski echoed comments made by Executive Chairman David Auld in the earnings release Home prices soared throughout the pandemic, but once inflation became scorching hot, hitting a four-decade high, and the central bank hiked its key interest rate to tame it, mortgage rates rose from their pandemic rock-bottom of sub-3%, too. The one-two punch of high home prices and high mortgage rates is bruising demand. Plus, President Donald Trump's Show less Read more
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