Lennar Corp reports second-quarter 2023-24 EPS up 15% to $3.45 ($3.38 excluding special items), as well as operating profit of $1.3 billion for its homebuilding business.

Revenues from home sales rose 9% to $8.4 billion, driven by a 15% increase in the number of homes delivered, partially offset by a 5% decline in the average selling price.

New orders rose by 19% to almost 21,300 homes, and Lennar's order book stood at just under 17,900 homes worth $8.2 billion at the end of May.

Although affordability continued to suffer from interest rates, buyers remained receptive to increased sales incentives', notes co-CEO Stuart Miller, also mentioning a 'macroeconomic environment that remained relatively constant'.

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