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A worker installs a roof on a home in New Paltz, New York.
AP Photo/Mike Groll
Over the roof.

America’s largest homebuilder just had its best sales quarter since 2007

Housing construction folks in the US have been very, very happy lately, and D.R. Horton’s latest earnings show why. America’s largest homebuilder brought in nearly $3.1 billion in revenue last quarter, surpassing expectations and making for the best quarter since 2007.

That’s despite the fact it’s been much harder than before the financial crisis to get a mortgage. It also comes as a larger share of housing under construction these days is multi-family (apartments, condos, etc.), and not the single-family homes that D.R. Horton specializes in:

Some of this might be because the houses that are getting built these days tend to be bigger and more expensive (paywall). For instance, the average D.R. Horton-built house sold in 2007 went for $244,000. In 2005, near the height of the most recent housing boom, it was about $275,000. This quarter? Roughly $285,000.

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