DR Horton beats profit estimate, raises 2018 forecast

Homebuilder D.R. Horton reported a better-than-expected quarterly profit on Thursday and raised its fiscal 2018 revenue and cash flow forecasts, further evidence that a strong U.S. job market is feeding through to demand for houses. Housing demand in the United States declined sharply for four years running after the sub-prime crash of 2007-2008 but has steadily gained momentum since, supported by falling unemployment and ultra-low interest rates.

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Source: CNBC

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