13:36 ET -- D.R. Horton's average closing price in 2Q was $362,000, which is 30% lower than the U.S. national average for new home prices, COO Michael Murray says on a call with analysts. The $155,000 spread showcases the company's continued focus on affordability, Murray says. According to CEO Paul Romanowski, 65% of closings for the home builder's mortgage company in 2Q were to first-time home buyers. "Affordability constraints and cautious consumer sentiment continue to impact new home demand, and our operators will continue to adjust as market conditions evolve," the CEO says. (dean.seal@wsj.com)
(END) Dow Jones Newswires
July 21, 2026 13:36 ET (17:36 GMT)
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