said new home orders rose 22% in the second quarter, continuing a recent string of solid news out of the nation's homebuilders.
New home orders totaled 9,797 in the quarter, up from 8,062 in the same period a year ago. Orders in the central U.S. were especially strong, rising 40%, the homebuilder said in a press release. Orders for the six-months ended May 31 totaled 16,508, up 16% from last year.
Additionally, Lennar said it has completed the renewal of its revolving credit facilities. One line is a $712.3 million five-year revolving credit facility maturing in May 2008, and the other is a $315.2 million 364-day revolving credit facility maturing in May 2004, at which time the company expects the facility to be renewed.
said preliminary net orders for the second quarter rose 16.7% to 8,394, including an increase of 19.8% in the U.S. For the six months ended May 31, preliminary net orders rose 9.5%, and U.S. orders climbed 10.6%.
New York Stock Exchange
trading Monday, KB Home closed at $62.06, and Lennar ended at $66.65.