Strong Delivery and Community Growth
Delivered 23,034 homes and grew community count to 1,708, an 18% increase over last year.
Asset-Light Strategy Success
Successfully reduced overall inventory from just under $20 billion to just under $12 billion, with less than 5% of land on the balance sheet.
Operational Efficiency Improvements
Reduced cycle time from 138 days to 127 days and improved inventory turn to 2.2x from 1.6x last year.
Financial Strength and Shareholder Returns
Ended the quarter with $3.4 billion of cash, total liquidity of $6.5 billion, and returned $3.2 billion to shareholders in fiscal 2025.