U.S. homebuilder D.R. Horton Inc. (DHI)  reported strong earnings on Thursday, Nov. 8, though warned it was seeing signs of "moderating' demand.

Net income in the company's fiscal fourth quarter ended Sept. 30, rose 48.8% to $466.1 million, or $1.22 a share, which was in line with analysts' forecasts. Revenue rose 8.3% to $4.51 billion vs. analysts' estimates of $4.57 billion.

Net sales orders for the fourth quarter increased 11% to 11,509 homes from 10,333 homes in the year-earlier quarter, while the value of net sales orders increased 10% to $3.4 billion from $3.1 billion, the company said.

However, homes in inventory as of the end of September increased 13% to 29,700 homes, compared to 26,200 homes at the same time a year ago - a sign of dipping demand.

"Sales prices for both new and existing homes have increased across most of our markets over the past several years, which coupled with rising interest rates has impacted affordability and resulted in some moderation of demand for homes, particularly at higher price points," D.R. Horton Chairman Donald Horton said in a statement.

"However, we continue to see good demand and a limited supply of homes at affordable prices across our markets, and economic fundamentals and financing availability remain solid," he said.

Shares of D.R. Horton ended Wednesday, Nov. 7 at $37.59, up 10 cents. The shares fell slightly in premarket trading on Thursday. 

Based in Fort Worth, Texas, D.R. Horton is the largest U.S. homebuilder by volume, with operations in 81 markets in 27 states.

More from Earnings

Morgan Stanley Sinks as Profit Misses Estimates Amid Trading Slump

Morgan Stanley Sinks as Profit Misses Estimates Amid Trading Slump

Signet Jewelers Loses Sheen After Guidance Cut

Signet Jewelers Loses Sheen After Guidance Cut

Alcoa Falls After Forecasting Weak Demand in 2019

Alcoa Falls After Forecasting Weak Demand in 2019

BB&T, KeyCorp Shares Drop After Earnings Reports

BB&T, KeyCorp Shares Drop After Earnings Reports

Knight-Swift Transportation Rises on Higher Earnings Guidance

Knight-Swift Transportation Rises on Higher Earnings Guidance