Home builder D.R. Horton Inc. today reported that its organic net sales orders for the quarter ended Sept. 30, 2005 increased 33 percent to a fourth-quarter record $3.8 billion (for 13,950 homes), compared to $2.8 billion (11,105 homes) for the same quarter of fiscal year 2004.
Organic net sales orders for fiscal year 2005 increased 28 percent to a record $14.6 billion (53,232 homes), compared to $11.4 billion (45,263 homes) for fiscal year 2004.
D.R. Horton Inc. is the largest home builder in the United States, delivering more than 50,000 homes in its fiscal year ended Sept. 30, 2005. Founded in 1978 in Fort Worth, Texas, D.R. Horton has expanded its presence to include 71 markets in 23 states in the Midwest, Mid- Atlantic, Southeast, Southwest and West regions of the United States. The company is engaged in the construction and sale of homes with prices ranging from $80,000 to over $900,000. D.R. Horton also provides mortgage financing and title services for home buyers through its mortgage and title subsidiaries.
Donald R. Horton, chairman, said in a statement, “For the first time in history, a home builder has sold more than 53,000 homes and closed more than 50,000 homes in the United States in a fiscal year. We are extremely pleased that all of our regions recorded double-digit increases in both sales dollars and units for the quarter. The excellent sales results in our fourth quarter, combined with our record year-end backlog, position the company for a strong start to another record year in fiscal 2006.”
For the third quarter of 2005, which ended Sept. 30, the average sale price of homes was $269,118, or 5.9 percent higher than the average price of $254,156 reported for third-quarter 2004, according to financial results released today. And for the fiscal year of Sept. 30, 2004, to Sept. 30, 2005, the average sale price of D.R. Horton homes was $275,086, up 9.2 percent from the average price of $251,998 in the prior fiscal year.
The company will present its 2005 fiscal-year earnings during a live Webcast at 10 a.m. ET on Nov. 16.
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