Sales of D.R. Horton’s entry-level Express homes have tripled in the brand’s first year, real estate reporter for the Wall Street Journal Kris Hudson reports.
The builder’s second quarter fiscal results showed that they sold roughly 2,000 Express brand homes in the first three months of 2015, which makes up 18 percent of its total sales.
This number cheers some analysts and economists who contend that the return of first-time homebuyers is critical for the industry, Hudson writes. But he also adds that D.R. Horton’s numbers don’t necessarily reflect the entry-level industry as a whole.
“Some say it’s partly because D.R. Horton is a very big fish in the sparsely populated pond of entry-level home construction,” he writes.