Homebuilder Stocks Slump as D.R. Horton Says Incentives Squeezed Margins
DHID.R. Horton(DHI) Investopedia·2024-01-24 03:15

Key TakeawaysHomebuilder stocks lost ground Tuesday after D.R. Horton Inc. missed profit estimates, citing incentives and lower prices it offered to draw in buyers.D.R. Horton's margins were lower than expected as it tried to keep costs down with mortgage rates the highest they've been in several years.D.R. Horton raised its outlook for 2024 home sales, anticipating a rise in demand even with high borrowing costs.Homebuilder stocks tumbled Tuesday after D.R. Horton Inc. (DHI), the largest U.S. homebuilder b ...