In the realm of homebuilding, a Miami-based giant stands tall, boasting an impressive 73,087 closings across 23 states in FY23. While its competitor, D.R. Horton, takes the top spot with 82,917 deliveries, Lennar Corp. holds its own with a staggering $34.2 billion in revenue, narrowly trailing Horton’s $35.5 billion. The key to Lennar’s success lies in its average sales price, which surpasses its rival by a significant $60,000 margin.
Geographically, Lennar’s East region reigns supreme, accounting for a substantial 31% of total deliveries. The company’s diverse portfolio comprises step-up homes (68% of closings), entry-level dwellings (28%), and retirement communities (4%), with an average selling price of $446,000. Furthermore, Lennar offers mortgage financing services to its customers.
Beyond its single-family home business, Lennar’s Multifamily division specializes in the development and management of apartment complexes, further solidifying the company’s position as a dominant force in the industry.
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