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Tribune News Service
Tribune News Service
Business
Mitchell Parton

Nation’s largest homebuilder sees sales soar despite higher interest rates

DR Horton Arlington Texas

Arlington, Texas-based D.R. Horton, the largest homebuilder in the U.S., saw a 37% year-over-year increase in sales orders last quarter despite higher mortgage rates and inflationary pressures.

The company’s sales orders for the quarter from April to June increased from 16,693 in 2022 to 22,879 in 2023, it reported Thursday. Closings increased 8% to 22,985 homes.

D.R. Horton earned $1.3 billion in profit — a 19% year-over-year decrease — on $9.7 billion in revenue in the quarter.

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