Smith Douglas Homes prioritizes pace over price, plays the long game
Smith Douglas posted 28% higher net new orders in Q1 2026, but gross margin fell to 19.6% as incentives hit 730 basis points.
Homebuilders
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Why LGI Homes is the clearest read on entry-level buyer math
A tale of two Spring Selling housing markets set the scene for LGI Homes’ Q1 2026 earnings release this week. Structurally, it’s not a market short on demand. Behaviorally and psychologically, though, it’s got homebuilders struggling to convert it. Team LGI’s performance – and every other public homebuilder in the current earnings cycle, for that […]
Housing starts overachieved in March amid warning signs aplenty
March starts reached 1.5 million, single-family 1.03 million, while permits fell 10.8% and completions dropped 13.5% year over year.
Century’s spec and land optionality model zigs as others zag
Century Communities raised gross margin to 17.8% and cut incentives to 12.5% as deliveries slowed to just over 2,000 in Q1 2026.
PulteGroup targets margin stability through an upward mix shift
PulteGroup’s Q1 2026 ASP fell 5% to $542,000, incentives rose to 10.9%, and gross margin declined to 24.4%.
Meritage Q1 2026 shows why incentives are the new battlefield
The mid-spring earnings cycle has produced a common-language reality check for America’s public homebuilders: the operating backdrop worsened faster than many management teams expected. In such a context of nearly-universal challenge, doing less-worse may count as a win. Meritage Homes’ Q1 2026 numbers serve as a case in point Orders fell 5% year over year, […]
Taylor Morrison pares incentives and leans into buyer choice
Tactical discounts, escalating incentives, absorption-at-any-cost strategies, … you all well know the routine of buying sales and making next to no money in Spring 2026. But that’s not for everybody. Exceptions are out there, public and private. Taylor Morrison has chosen a playbook and is well into executing a game plan that leans on the […]
Beazer Homes CEO Allan Merrill on sustainability and affordability
Beazer Homes CEO Alan Merrill says employee service initiatives help build culture across the company’s divisions, including fundraising tied to an annual half-marathon. He also discusses Beazer’s long-running focus on energy efficiency, durability, and expanding solar communities.
Toll Brothers expands luxury footprint with Buffington acquisition
The market reaction to homebuilder earnings this spring has carried a clear message: scale, discipline, and positioning still matter. Where you choose to deploy them may matter even more. On Tuesday, Toll Brothers signaled its next move in that equation by announcing a deal to acquire substantially all the assets of Fayetteville-based Buffington Homes of […]
D.R. Horton executed again, and smaller builders feel the squeeze
D.R. Horton’s stock arc mapped a familiar story Tuesday. Of investor recognition. Of the power and primacy of no financial or operational surprises to the negative. Shares traded modestly higher on elevated volume following the company’s fiscal Q2 earnings release this morning, as investors processed a result that checked the right boxes: a beat on […]