Lennar expects national slowdown in residential construction. Here's how Dallas fits in - Dallas Business Journal

expects a national slowdown in both single-family and multifamily construction in 2023, but his company will reduce prices and offer incentives as it keeps building.

“Throughout the year we adjust prices and affordability for our customers to maintain [sales] volume,” Miller said. “We will be adaptable to the interest rate as it evolves throughout the year.”Even as Lennar had to lower prices and offer incentives, construction costs remained elevated. Lennar co-President and co-CEOsaid construction costs were up 16% year-over-year.

“There will not be an inventory overhang,” he said. “The duration of this correction will be smaller and somewhat limited.” “We’ve very fortunate to have limited unsold inventory in those markets so we should be able to get these markets back on track in the first quarter,” Beckwitt said.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fort Capital buys San Antonio business park - Dallas Business JournalFort Capital has acquired Blossom Business Park, an eight-building, Class B industrial complex just north of the San Antonio airport.
Source: DallasBizNews - 🏆 525. / 51 Read more »

How Southwest plans to go after more business travel market share - Dallas Business JournalCEO Bob Jordan said Southwest Airlines' investments in business travel is delivering returns even though business demand has yet to fully recover to pre-pandemic levels
Source: DallasBizNews - 🏆 525. / 51 Read more »

Lennar expects national slowdown in residential construction. Here's how Dallas fits in - Dallas Business JournalLennar has lowered prices to maintain its home sales volume, but other builders are not doing the same. Dallas was among 23 markets where the Miami-based company was able to regain normal sales volume after enlisting strategies to counter the rapid rise of interest rates.
Source: DallasBizNews - 🏆 525. / 51 Read more »

Closed home sales drop 30% in Fort Worth, Tarrant County - Dallas Business JournalPricing continued to slide in November, with the median home price in Fort Worth dropping from $341,000 last month to $333,009 this month.
Source: DallasBizNews - 🏆 525. / 51 Read more »