Hovnanian roughly broke even before taxes, but to-be-built sales jumped to 32% of the mix and construction costs fell 2%.

Green Brick grew orders 19% with a 29.8% gross margin, and its Trophy brand cut Dallas cycle times to 84 days.

Smith Douglas grew closings 25% and orders 32% on a 55-day build time, but pre-tax income was just $1.9M after impairments and option write-offs.

D.R. Horton grew orders 11% and cut completed unsold homes 35%, while net earnings fell 20% on pricing pressure.

Lennar grew orders and backlog while margins fell to 15.2%, and lowered direct costs for the 12th time in 13 quarters.

PulteGroup kept a 24.4% gross margin despite 10.9% incentives and began shifting back toward a 60% build-to-order mix.

NVR grew orders 7% and improved cancellations to 14%, but settlements fell 22% after a weak starting backlog.

Meritage grew communities 19% and converted 254% of backlog, while gross margin fell 450 bps to 17.5% and starts were cut 30%.

KB Home’s operating income fell 74%, but build times dropped to 108 days and direct costs fell 8% as it returns to built-to-order.

Taylor Morrison’s revenue fell 27%, but finished specs dropped 30% and to-be-built orders rose to 38% of sales.

Toll met or beat guidance on nearly every metric and grew pre-tax income 24%, with build-to-order margins still above 30%.

Century cut cycle times 15% to 114 days and finished specs 31%, but orders fell 11.6% and full-year delivery guidance was lowered.