On Thursday evening, Lennar Corp reported adjusted earnings of $5.17 per share for the last three months of its 2022-23 fiscal year, compared with $5.02 a year earlier, on home sales revenues up 8% to $10.4 billion.

These increased mainly due to a 19% rise in the number of deliveries, partly offset by a 9% drop in the average selling price of homes delivered as prices aligned with the market.

Our strategy is to focus on the pace of production and sales rather than on price," emphasizes Executive Chairman and Co-CEO Stuart Miller, adding that "rising interest rates have tested buyer confidence".

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