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Berkshire to Take Taylor Morrison Private in $8.5 Billion Homebuilder Buyout
business1 month ago

Berkshire to Take Taylor Morrison Private in $8.5 Billion Homebuilder Buyout

Berkshire Hathaway will acquire Taylor Morrison Home Corporation in an all-cash deal with a total enterprise value of about $8.5 billion, paying $72.50 per share (a 24% premium to the May 29 close). Equity value is roughly $6.8 billion, and Taylor Morrison will delist from the NYSE to join Berkshire’s private portfolio. Sheryl Palmer is expected to stay on as CEO, and completion is anticipated in the second half of 2026 after shareholder and regulatory approvals. The deal expands Berkshire’s housing platform and follows Greg Abel’s leadership of the transaction, with Buffett noting Abel’s efficiency.

via Yahoo Finance|
#berkshire-hathaway#business#homebuilding
Berkshire Bets on U.S. Housing With $6.8B Taylor Morrison Buy
business1 month ago

Berkshire Bets on U.S. Housing With $6.8B Taylor Morrison Buy

Berkshire Hathaway agreed to acquire Taylor Morrison Home for $6.8 billion in cash, paying $72.50 per share and valuing the company at about $8.5 billion including debt. The deal, expected to close in the second half of 2026, is one of the first major moves under new CEO Greg Abel and signals Berkshire’s bet on a housing-market recovery, leveraging its extensive homebuilding footprint.

via CNBC|
#berkshire-hathaway#business#homebuilding
Berkshire Hathaway to acquire Taylor Morrison for $8.5 billion in all-cash deal
business1 month ago

Berkshire Hathaway to acquire Taylor Morrison for $8.5 billion in all-cash deal

Berkshire Hathaway will acquire Taylor Morrison Home Corporation in an all-cash deal at $72.50 per share, valuing equity at about $6.8 billion and enterprise value at about $8.5 billion—a 24% premium to Taylor Morrison’s May 29, 2026 close. The transaction, expected to close in the second half of 2026, will take Taylor Morrison private and keep its management in place, with Berkshire aiming to eventually unify its site-built homebuilding operations under one platform.

via Business Wire|
#acquisition#berkshire-hathaway#business
CoStar expands into new-home data with $800M Zonda acquisition
business1 month ago

CoStar expands into new-home data with $800M Zonda acquisition

CoStar Group announced a definitive agreement to acquire Zonda for $800 million in cash, expanding its real estate information and marketplaces into the new-home sector with Zonda’s lot-level data, builder workflows, and marketplaces NewHomeSource and Livabl. Zonda serves about 3,000 customers with subscription-revenue and a 104% net retention rate. The deal is expected to be accretive to adjusted EPS in the first full year and should close in the second half of 2026, subject to customary approvals. The combination aims to unlock cross-sell opportunities across CoStar’s commercial, residential, lending, and analytics businesses and will integrate Zonda’s Envision with Matterport’s spatial technology to enhance online marketing of new homes.

via Business Wire|
#business#costar-group#data-analytics
real-estate9 months ago

Lennar's Q3 Results Signal Continued Challenges in the Housing Market

Lennar, a major homebuilder, reported significant declines in profits and gross margins due to falling home prices and increased incentives, with its average selling price dropping below 2019 levels. Despite lower prices, home sales volume remained stable or increased slightly, highlighting a shift in the market dynamics. The report underscores the challenges faced by sellers of existing homes amid high prices and the impact of the end of pandemic-era monetary support on the housing market.

via Wolf Street|
#home-prices#homebuilding#housing-market
D.R. Horton Stock Surges 13% on Earnings Beat Amid Soft Housing Market
business11 months ago

D.R. Horton Stock Surges 13% on Earnings Beat Amid Soft Housing Market

D.R. Horton stock surged 13% after reporting a surprising earnings beat with EPS of $3.36 and revenue of $9.23 billion, driven by buyer incentives amid high interest rates. Despite strong quarterly results, the company faces ongoing challenges with consumer spending and has lowered its revenue forecast for the year. Analysts give a moderate buy rating with a target price suggesting nearly 10% upside.

via TipRanks|
#business#dr-horton#earnings-beat
Florida Embraces Storm-Resistant Homes Post-Hurricane Season
environment1 year ago

Florida Embraces Storm-Resistant Homes Post-Hurricane Season

In response to increasingly severe hurricanes, Florida developers are constructing hurricane-resistant communities using innovative techniques like elevated homes, steel straps, and smart lakes to minimize storm damage. Developments like Hunters Point and Babcock Ranch exemplify this trend, with features such as underground utilities and fortified structures. While no home can be entirely hurricane-proof, these strategies aim to enhance resilience and protect property values amid rising insurance costs and climate change challenges.

via Business Insider|
#climatechange#environment#floridarealestate
California Faces Home Insurance Crisis Amid Rising Wildfire Risks
business2 years ago

California Faces Home Insurance Crisis Amid Rising Wildfire Risks

Property insurers are conducting controlled burn demonstrations to advocate for changes in construction standards to better protect homes against wildfires. Due to increasing wildfire risks exacerbated by climate change, insurers are warning that homes in high-risk areas must be built to withstand fires or they may not be insurable, impacting mortgage availability. The insurance industry, facing significant financial losses, is pushing for these changes to sustain their business model.

via The New York Times|
#business#climate-change#construction-standards
"March Sees Sharp Decline in US New Home Construction Amid Housing Shortage"
economy2 years ago

"March Sees Sharp Decline in US New Home Construction Amid Housing Shortage"

Single-family home construction in the US plunged in March, with new construction affected by a shortage of previously owned houses for sale and a resurgence in mortgage rates. The Commerce Department's report revealed a 12.4% drop in single-family housing starts, with permits for future construction also declining. The housing market's recovery appears to be losing steam, and economists are uncertain about potential rate cuts by the Federal Reserve. Overall housing starts plummeted 14.7%, the biggest drop since April 2020, indicating a setback in the housing market.

via New York Post |
#construction#economy#federal-reserve
"February 2024 Sees Rebound in US Housing Starts for New Home Construction"
businesseconomics2 years ago

"February 2024 Sees Rebound in US Housing Starts for New Home Construction"

US housing starts for new home construction rebounded sharply in February, increasing by 10.7% to a 1.52 million annualized rate, the largest rise since May. This recovery comes after a period of weather-related weakness at the beginning of the year, with builders benefiting from slightly more favorable mortgage rates and a shortage of existing houses for sale.

via Bloomberg|
#businesseconomics#construction#homebuilding
"Sharp Drop in US Housing Starts Leaves First-Time Buyers Struggling"
economy2 years ago

"Sharp Drop in US Housing Starts Leaves First-Time Buyers Struggling"

US homebuilding experienced its largest drop since April 2020 in January, with housing starts falling by 14.8% compared to the previous month, largely due to winter storms and higher mortgage rates. Building permits also decreased by 1.5%, indicating a continuing housing shortage ahead, according to Lawrence Yun, chief economist at the National Association of Realtors.

via CNN|
#economy#homebuilding#housing-shortage
"D.R. Horton's Q1 Earnings: What's in Store?"
finance2 years ago

"D.R. Horton's Q1 Earnings: What's in Store?"

D.R. Horton is set to report its first-quarter fiscal 2024 results, with estimates indicating a 4.4% increase in earnings per share and 5% year-over-year revenue growth. The company's homebuilding revenues are expected to have improved due to higher homes closed, but higher costs may impact margins. The Zacks model predicts an earnings beat for D.R. Horton, which currently carries a Zacks Rank #3. Other companies in the construction sector with favorable combinations for an earnings beat include Meritage Homes Corporation, THOR Industries, Inc., and Trex Company, Inc.

via Yahoo Finance|
#dr-horton#earnings#finance