Company: LEN
Filing Date: 2025-07-01
Form Type: 10-Q
Source: 0001628280-25-033777
Chunk: 187

Company: LENNAR CORP /NEW/
Filing Date: 2025-07-01
Form: 10-Q
Item: Item 2
Chunk 187
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,909 10,662 5,886,178 6,675,384 594,000 626,000 Other17 31 11,547 15,218 679,000 491,000 Total40,956 39,469 $16,005,995 16,937,258 $391,000 429,000 

Of the total new orders listed above, 242 homes with a dollar value of $129.7 million and an average sales price of $536,000 represent homes from unconsolidated entities for the six months ended May 31, 2025, compared to 120 homes with a dollar value of $65.2 million and an average sales price of $543,000 for the six months ended May 31, 2024.

(2)Homes represent the number of new sales contracts executed with homebuyers, net of cancellations, during the three and six months ended May 31, 2025 and May 31, 2024.

We experienced cancellation rates in our Homebuilding segments and Homebuilding Other as follows:

Three Months EndedSix Months EndedMay 31,May 31,2025202420252024East14 %17 %15 %17 %Central10 %9 %10 %10 %South Central16 %16 %16 %17 %West13 %11 %12 %11 %Other13 %13 %19 %9 %Total14 %13 %14 %14 %

Backlog (3):At May 31,2025 (1)20242025202420252024HomesDollar Value (In thousands)Average Sales PriceEast3,825 5,744 $1,530,495 2,432,505 $400,000 423,000 Central4,781 5,130 1,937,087 2,171,264 405,000 423,000 South Central3,430 2,607 815,681 663,648 238,000 255,000 West3,500 4,383 2,200,051 2,962,332 629,000 676,000 Other2 9 1,176 3,586 588,000 398,000 Total15,538 17,873 $6