Lennar Forecast Disappoints in Challenging Market for Builders

Builder Lennar Corp.’s forecast for quarterly home orders missed analysts’ estimates as affordability concerns and the wavering job market keep a lid on buyer demand.

• The company projected 20,000 to 21,000 contracts for its fiscal fourth quarter, according to a statement Thursday. Analysts expected 21,047, the average in a survey compiled by Bloomberg.

Key Insights

• Lennar’s forecast is disappointing given the recent drop in mortgage rates, which now are at the lowest levels in almost a year. The economic uncertainty caused by tariffs and a weakening labor market are likely to hold back some would-be buyers.
• Builders also ...