Daily Digit: Lennar's $1.5 Billion
The Daily Digit is $1.5 billion. That is Lennar's backlog at the end of the quarter. The No. 3 U.S. homebuilder reported stellar results on Wednesday and said new orders rose 34 percent to 4,055 homes, worth $1.5 billion. The fat number comes amid a spike in home sale closings and higher prices Falling home inventories, lower interest rates, rising rents and fewer competing homebuilders have created a supply crunch, which also helped.
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