Lennar’s new orders rise 20%

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The home builder Lennar reported a 20 percent jump in new orders –– its highest level in more than four years.

January 18, 2012
home builder, homebuilder, lennar, new construction

home builder, homebuilder, lennar, new construction

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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