By Will Feuer
D.R. Horton issued an upbeat revenue forecast for its fiscal 2024, betting that housing demand will barrel forward despite higher mortgage rates.
The homebuilder, based in Arlington, Texas, is targeting fiscal-year revenue of about $36 billion to $37 billion. Analysts surveyed by FactSet expected fiscal 2024 revenue of $36.09 billion. The company’s fiscal year started in early October.
Chairman Donald Horton said the supply of affordable homes is still limited, and that demand for housing is holding up despite higher mortgage rates and other financial pressures on buyers.
Write to Will Feuer at [email protected]
Read the full article here