Top builder says the housing boom isn't over just yet
CNN
Intense bidding wars and supply shortages for lumber and other building materials threaten to finally derail the housing market. But one top homebuilder says the good times — for builders, anyway — aren't over just yet.
Lennar (LEN), a Miami-based builder, reported earnings and revenue after the closing bell Wednesday that topped forecasts. What's more, Lennar said that its backlog and new orders for homes continued to surge. The stock was up about 3% Thursday on the news. "The housing market remained very strong across the country, even as interest rates mildly ticked up," said Lennar executive chairman Stuart Miller in the earnings release.
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