Lennar (LEN) Cuts Delivery Forecast. Can Construction Savings Offset Heavy Incentives?

Lennar Corporation (NYSE:LEN) is building homes faster and more cheaply, but affordability pressures continue to limit profitability. On September 16, the homebuilder reported fiscal third-quarter gross margin on home sales of 15.8% and reduced its annual delivery target to 80,000–81,000 homes from 82,000–83,000. The latest quarter illustrates the trade-off. Construction costs per square foot fell […]