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Lennar’s new orders rise 20%
The home builder Lennar reported a 20 percent jump in new orders –– its highest level in more than four years.
The home builder Lennar reported a 20 percent jump in new orders –– its highest level in more than four years, according to Bloomberg.
Orders increased to 3,027 for the fourth quarter ended Nov. 30 from 2,520 a year earlier, the Miami-based company said in a statement last week. The shares gained $1.49, or 7.2 percent, to $22.25 in New York, their highest close since October 2007.
The 11-member Standard & Poor’s 1500 Homebuilding index rose 4.1 percent, led by KB Home. Lennar Chief Executive Officer Stuart Miller said he is seeing improvement in demand for housing.
“As I look ahead to 2012, I’m cautiously optimistic that we’re seeing a real bottom form and we’re beginning to see a recovery,” Miller told Bloomberg on a conference call. “Stabilization will emanate from the most desirable markets and spread slowly outward.”
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