Red-hot demand for houses sounds like great news for homebuilders. But builders aren’t as thrilled as you might expect, and one builder is actually turning down orders.
- In June, existing-home sales rose in all major U.S. regions. The median price of a home sold was a record-high $363,300.
Driving the news: U.S. homebuilding giant D.R. Horton announced on Thursday that its quarterly revenue and earnings growth beat expectations thanks to demand.