Green Brick seizes a margin edge as a land and product outlier
Green Brick Partners posted a 29.8% Q2 gross margin, up 900 basis points, as the Trophy Signature Homes brand keeps growing.
Earnings
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Meritage Q2 2026 earnings telegraph move-up buyer pivot
For much of the past decade, Meritage Homes has stood as one of public homebuilding’s clearest business use cases that thoughtfully designed, efficiently built entry-level homes could unlock homeownership for thousands of households who otherwise might have remained renters. The company’s strategy wasn’t simply to build smaller homes. It reshaped its land acquisition, product design, […]
Pennymac profit drops in Q2 as rates bite, layoffs follow
Pennymac posted Q2 net income of $22 million, down 84% YoY, as lock volume fell 18% and adjusted ROE slipped to 7%.
Homes.com helps drive CoStar to first profitable residential quarter
For the first time, CoStar’s residential portfolio turned adjusted EBITDA positive, generating $12 million in profit.
Lot demand shifts to terms and timing at Forestar, Five Point
In 2024 and early 2025, homebuilders large, medium and small were smitten with the strategic notion of “land light.” In 2026, and for the near future, most everybody is more preoccupied, and rightly so, with “land right.” Many of the U.S.’s most prolific new-construction markets undergoing some form of “work-out” to winnow down aging spec […]
NVR is land light by design, Q2 2026 reveals the strategy has limits
If you do not build it, they cannot come. If you cannot permit it, you cannot build it, and they cannot come. NVR Q2 2026 results offer a sharp counterpoint to the strategic shifts now underway across public homebuilding. Lennar has boldly reset its enterprise around a more asset-light on-demand land investment structure. D.R. Horton […]
Century Communities leans on operations as strategy in Q2 2026
“A rose is a rose is a rose,” according to a 1913 poem Gertrude Stein wrote, called Sacred Emily. In our more earthbound sphere of residential development, investment and construction, a tacit belief is common, but misleading. Peal back a layer or two, and it is clear. A homebuilder is not a homebuilder is not […]
Pulte banks on build-to-order pivot as margins find a floor
Pulte’s earnings show BTO share climbing to 45% in Q2 as cycle times hit 100 days, and gross margins improving to 25%.
D.R. Horton bets operating rigor will outperform uncertain demand
Few homebuilding enterprises look so voraciously at other homebuilding operators’ share of new-home sales in any given arena as present and future opportunity as does D.R. Horton. When those Horton flags flap in the dry summer wind, you can almost hear them as lips smacking in anticipation of a good meal later in the day. […]
KB Home Q2 2026 earnings point to scale vs execution debate
Homebuilding’s mid-year public company earnings season is now looking through the prism of the back half of 2026. Each of the sector’s players had better have put themselves in a good position for some heavy lifting and outperformance, rather than lugging around a forgettable first half. In that light, it’s welcome news that one of […]