Today, in the Calculated Risk Real Estate Newsletter: Lawler: D.R. Horton (DHI) Net Order Price Declined “Roughly” 10% from Peak
Brief excerpt: From housing economist Tom Lawler:
DHI’s average net order price last quarter was actually DOWN 4.1% from the comparable quarter of 2021, and was down 7.9% from the previous quarter. While some of this decline may have been related to the mix of sales, it’s worth noting that the average net order price was down YOY in all but one of the regions DHI reports on (the “East” saw no change, while the Southwest saw a 10% drop). In addition, the company on the conference call seemed to suggest that most of the recent price declines have reflected decreased prices and/or increased concessions (see below).You can subscribe at https://calculatedrisk.substack.com/.