What Homebuilder Lennar Said about the Tough Housing Market: Average Sales Price Down 24% from Peak, back to 2017
Lennar reported Q2 2026 earnings showing its average sales price per home fell 4.6% year-over-year to $371,000 (down 24.4% from Q3 2022 peak), reflecting approximately 12.9% in incentives and base price adjustments to sustain sales volume in an affordability crisis. The company increased deliveries by 2% to 20,519 homes and cut construction costs by 13% over several years, but gross margin fell to 15.6% from 17.8% year-over-year, while net income plunged 36% year-over-year to $305 million and Lennar's stock price declined 49% from its September 2024 peak.
Published by Wolf Street. Global Real Estate Intelligence links to the original source and credits the publisher; all rights remain with them.
Provenance
- Publisher
- Wolf Street
- Obtained from
- Wolf Street
- Published
- Jun 12, 2026
- Last updated
- Jun 28, 2026 (1 month ago)
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