Lennar Says Hurricane Irma Will Cause Home Delivery Delays

Lennar, one of the nation’s most prominent home builders, said that Hurricane Irma will push back the deliveries of 700 homes in Florida, Georgia, and South Carolina to the next fiscal year.

According to CNBC, communities in those state and Texas account for 40 percent of its annual home building revenue.

Hurricane Harvey caused delays for Lennar as well. The storm and flooding impacted orders and deliveries of 120 homes in the third quarter, which ended August 31, and 130 homes in the fourth quarter.

Lennar said there was only minor damage to its communities as a result of Irma, based on a "very preliminary" assessment. … The company expects rebuilding activity to drive demand for new homes next year, Lennar added.

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