Company: LEN
Filing Date: 2025-10-03
Form Type: 10-Q
Source: 0001628280-25-044086
Chunk: 184

Company: LENNAR CORP /NEW/
Filing Date: 2025-10-03
Form: 10-Q
Item: Item 2
Chunk 184
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18,855,087 22.3 %3,623,765 10,176 26,768 54,038 132,122 3,846,869 

(1)Net margins on sales of homes include selling, general and administrative expenses.

(2)Negative gross and net margins were due to period costs in Urban divisions that impact costs of homes sold without sufficient sales of homes revenue to offset those costs.

36

Summary of Homebuilding Data

Deliveries:

Three Months Ended August 31,202520242025202420252024HomesDollar Value (In thousands)Average Sales PriceEast4,770 5,270 $1,744,875 2,108,031 $366,000 400,000 Central5,469 5,510 2,072,731 2,202,207 379,000 400,000 South Central6,413 5,067 1,507,314 1,283,781 235,000 253,000 West4,926 5,663 2,950,118 3,470,255 599,000 613,000 Other6 6 3,622 3,225 604,000 538,000 Total21,584 21,516 $8,278,660 9,067,499 $383,000 422,000 

Of the total homes delivered listed above, 146 homes with a dollar value of $65.1 million and an average sales price of $446,000 represent homes from unconsolidated entities for the three months ended August 31, 2025, compared to 124 homes with a dollar value of $49.9 million and an average sales price of $402,000 for the three months ended August 31, 2024.

Nine Months Ended August 31,202520242025202420252024HomesDollar Value (In thousands)Average Sales PriceEast13,757 15,177 $5,153,936 6,172,193 $375,000 407,000 Central14,102 13,604 5,399,868 5,412,479 383,000 398,000 South Central17,317 13,999 4,173,587 3,548,464 241,000 253,000 West14,351