Sees Q4 average selling price $510,000. Says expects improvement in housing gross margin and SG&A expense ratio in Q4. Sees Q4 housing gross profit margin 21%-21.4%. Sees Q4 tax rate 24%. Says gross margin in Q3 was slightly lower than past two quarters. Says desire for home ownership is strong. Says some buyers hesitated on purchase decision given uncertainty of interest rates. Says lower mortgage rates help stimulate demand. Says adjusted pricing at community level as needed which positively impacted net orders in August. Says mortgage concessions averaged 2% of housing revenues in Q3. Comments and guidance taken from Q3 earnings conference call.
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