D.R. Horton is America’s number one homebuilder — and has been since 2002. They’ve also been the largest homebuilder in the U.S. by volume for 16 consecutive years. But, being the largest builder doesn’t necessarily mean access to more lots for construction. With an overwhelming demand for finished lots — and D.R. Horton owning no more than a twoto three-year supply of lots — they acquired 75 percent of Forestar Group Inc. in 2017, expanding their empire.
“We are pleased to have reached this agreement with Forestar,” said Donald R. Horton, Chairman of the Board of D.R. Horton. “The acquisition of a majority ownership position in Forestar advances D.R. Horton’s stated strategy by increasing our access to high-quality optioned land and lot positions and creates strategic alignment between these companies.”
D.R. Horton has been needing more land, especially since the creation of its affordable, first-time homebuyer line, Express. Within the past four years, the inception of the Express brand has composed more than one-third of homes sold and more than one-fourth of total home sales in the latest quarter.
The Express brand offers homes that are built quickly, made simply, and primarily target first-time homebuyers. The homes offer several packages with different countertop color options, floors, and other accessories. Beyond these customizations, the homes are not custom-made, keeping the price low and affordable. The homes have also helped D.R. Horton sell faster and cheaper, keeping them at the top of the homebuilding industry in 79 markets throughout 26 states.
With D.R. Horton’s 2018 First Quarter Earnings reflecting 47,135 annual homes sold and access to more lots for construction on the way through the Forestar acquisition, we’ll be sure to see more sales keeping D.R. Horton at number one in 2018.
“Our balance sheet strength, liquidity and continued earnings growth are increasing our strategic and financial flexibility, and we plan to maintain our disciplined, opportunistic position to enhance the long-term value of our company,” commented Horton.
For more information, visit http://drhorton.com.