FHA Loan Articles

Lennar warns of hurricane-related delays to new-home deliveries

Miami-based Lennar said Hurricane Irma’s path along the eastern seaboard will most likely delay about 700 home deliveries in Florida, Georgia and South Carolina, from its fiscal fourth quarter.

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Lennar Corp. anticipates that hurricane-related damage will delay its new-home deliveries temporarily, adding to home-inventory challenges in the mortgage market in the short-term. Homebuilders Bonnie Sinnock September 14, 2017

Lennar says hurricanes will delay hundreds of new home deliveries. However, the hurricane impacted 120 new home orders and deliveries in the fiscal third quarter ended Aug. 31, and it will likely impact 130 new home deliveries that were scheduled for the fiscal fourth quarter ending Nov. 30.

Lennar briefly topped an early entry at 54.96. Lennar now says about 950 closings will be pushed from fiscal 2017 into 2018 due to Hurricanes Harvey and Irma, but down the road sees increased demand due to the storms. Last month, Lennar said Irma would delay about 700 deliveries from Q4 2017 into the following fiscal year.

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Similar delays in construction and selling are likely to be the most significant risks Lennar faces. Risk #3: Litigation risk. It’s a near certainty lawsuits will be filed, but with little success.

Hurricane Shutters. If your home is equipped with or for hurricane shutters, we suggest that you plan for rapid installation of those shutters as there is typically much to do when a hurricane draws near. Consider taking time now to ensure you have all of the appropriate tools for proper installation of your shutters and know how to install.

The are becoming more common in the real estate industry as an increasing number of realtors, members of the NationalAssociation of Realtors, consider themselves a member of a real estate team,

Lennar estimates that approximately 700 deliveries will be delayed in the fourth quarter due to the impact of Irma.. potential delays in new-home utility. also expects a hurricane-related.