The Real Deal Miami

Lennar nets $81M more in fourth-quarter earnings

Increase of 50 percent YOY
January 15, 2015 01:08PM

Lennar Corp. development

Lennar Corp. development

Miami-based homebuilder Lennar Corp. reportedly increased its fourth-quarter earnings by about 50 percent.

Lennar, the biggest U.S. homebuilder by market value, sold more homes at higher prices, bringing in about $245 million in the fourth quarter from $164 million a year earlier, according to a statement released Thursday.

Lennar builds homes for first-time and move-up buyers, retirees and multiple-generation households in 17 states, the Daily Business Review reported. The company also invests in apartments, communities, mortgage financing and commercial real estate.

Purchases of new homes across the country declined in November to a four month low, according to the Daily Business Review.

“While a number of macroeconomic factors have contributed to ongoing choppiness in the recovery, with more pressure on sales prices and gross margins, we remain optimistic about the continuation of the recovery,” Lennar CEO Stuart Miller said in the statement. [Daily Business Review]Katherine Kallergis