Tight supply of homes propels builder D.R. Horton to big sales, profits

Arlington-based D.R. Horton, the country’s largest homebuilder, saw a 14% year-over-year increase in sales orders despite inflation and elevated mortgage rates. The company’s net sales orders for the second fiscal quarter ending March 31 were 26,456 homes, up from 23,142 over the same period last year. That’s also a 46% increase from the 18,069 net sales reported last quarter. Brian Yarbrough, an Edward Jones analyst who closely tracks D.R. Horton, said the homebuilder continues to execute, benefitting from a lack of existing supply in the marketplace. There were three months...