D.R. Horton Inc, the biggest U.S. homebuilder, forecast 2019 revenue below Wall ...
FILE PHOTO: A house built by the D.R. Horton company is seen for sale in Arvada, Colorado January 24, 2017. REUTERS/Rick Wilking/File Photo
Even as housing market fundamentals strengthen due to lower mortgage rates and moderating home prices, builders are unable to break more ground on lower-priced housing projects - an area where Horton has been focusing on. The company reported a 6.2 percent rise in orders to 16,805 homes that came in just above analysts’ estimates of 16,695 homes. But its full-year revenue forecast of $16.7 billion to $17.0 billion fell short of the average estimate of $17.16 billion.
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