Reports Q4 revenue $9.9B, consensus $10.11B. Stuart Miller, Executive Chairman and Co-Chief Executive Officer of Lennar (LEN), said, “In the course of our fourth quarter, the housing market that appeared to be improving as the Fed cut short-term interest rates, proved to be far more challenging as mortgage rates rose almost 100 basis points through the quarter. Even while demand remained strong, and the chronic supply shortage continued to drive the market, our results were driven by affordability limitations from higher interest rates.”
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