Lennar valuation near tangible book puts margins in spotlight
The stock trades at about 1.05x tangible book after a 16% decline, with ROE most sensitive to margin shifts
Lennar
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Lennar sells majority stake in multifamily business, signaling strategic shift
Lennar sold a majority stake in Quarterra to TPG amid a $75 million loss in 2025, enabling the builder to focus more on core homebuilding.
Lennar targets margin stability with operational efficiency and steady volume
Lennar is targeting 3% delivery growth in 2026, relying on operational improvements and a land-light strategy to manage margin pressures and support affordable supply.
Berkshire exits D.R. Horton, adds to Lennar — what it means for homebuilders
Buffett’s Berkshire didn’t leave housing in Q3 2025 — it reshaped exposure: sold D.R. Horton and increased Lennar, signaling which builders may best weather a soft, incentive‑heavy market.
Homebuilder sales incentives are in full bloom this spring
Despite restrictions of the NAR settlement, builders are incentivizing buyers and their agents by offering higher commissions and bonuses.