Lennar Corp’s Number of Homes Delivered (2013-2021)

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This statistic highlights Lennar Corp’s Number of Homes Delivered, reported on an annual basis from 2013 onwards.
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This statistic highlights Lennar Corp’s Number of Homes Delivered, reported on an annual basis from 2013 onwards.

Lennar Corp’s Number of Homes Delivered

Period 2019 2020  2021
No. of home-delivered 51,491 52,925 59,825

Lennar Corp’s New Orders increased from 52,925 in 2020 to 59,825 in 2021, marking a rise of 13.03% on a year-on-year basis. It increased by 16.18% as compared to 51,491 in 2021.

The number of residences under contract is referred to as the backlog. Sales contracts, which are usually accompanied by sales deposits, are used to sell homes. Purchasers may be allowed to cancel sales in some cases if they do not qualify for financing or under certain other conditions.

Homebuilding East

Revenues from home sales grew in 2021 compared to 2020, owing to an increase in the number of home deliveries in all of the segment’s states except Pennsylvania. The rise in home deliveries was mostly due to increased demand for homes, while the decline in deliveries in Pennsylvania was due to fewer communities opening and closing.

The increase in the average sales price of homes delivered was primarily due to favorable market conditions and a change in product mix, according to Trulia’s most recent annual report of 2017.

Homebuilding Central

Revenues from home sales increased in 2021 compared to 2020, owing to an increase in the number of home deliveries in all states except Virginia, and an increase in the average sales price of homes delivered in all states except Virginia and Tennessee. The rise in the number of home deliveries was mostly due to increased demand as the number of active communities grew. The decline in home deliveries in Virginia was mostly due to a reduction in the number of communities as a result of the time of community opening and closing.

The average sales price of homes delivered in Virginia and Tennessee fell due to a shift in product mix caused by a higher number of deliveries in lower-priced areas. Price appreciation accounted for the majority of the increase in gross margin percent on home deliveries in 2021 over the same period last year.

Homebuilding Texas

Revenues from house sales grew in 2021 compared to 2020, owing to an increase in the number of home deliveries. The rise in the average sales price of newly delivered homes was mostly attributable to improved market conditions. The improvement in gross margin percentage on home deliveries in 2021 over the same period last year was partly due to price appreciation.

Homebuilding West

Home sales revenues increased in 2021 compared to 2020, owing to an increase in the number of homes delivered in all states of the segment except Colorado, as well as an increase in the average sales price of homes delivered in all states of the segment. The increase in home deliveries across the category was attributed to stronger demand as the number of deliveries per active community grew during the quarter.

The rise in the average sales price of newly delivered homes was mostly attributable to improved market conditions. The rise in gross margin percentage on home deliveries in 2021 compared to the same period the previous year was mostly attributable to price appreciation, as revenue per square foot of homes delivered climbed faster than cost per square foot.

About the Company

Lennar Corporation is home construction and real estate corporation with headquarters in Fontainebleau, Florida, and a mailing address in Miami. After purchasing CalAtlantic Homes in 2017, the firm became the largest house construction company in the United States. As of 2019, the company is rated 154th on the Fortune 500. Rialto Capital Management, the sponsor of six private equity real estate funds and an originator of commercial mortgage loans for securitization, is owned by the firm, which operates in 21 states. In addition, the corporation created 53 apartment developments and still owns a stake in them.

Leonard Miller and Arnold Rosen, two of the company’s founders, came up with the name Lennar, which is a portmanteau of their first names. In 1971, it was listed on the New York Stock Exchange (NYSE: LEN).

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