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D.R. Horton's home closings up 11% YOY in Q4

D.R. Horton Inc. logged an 11% year-over-year increase in homes closed in the fourth quarter, with home sales revenue for the period rising 9% year over year to $4.4 billion from $4.0 billion.

Homes closed during the period totaled 14,674, compared to 13,165 in the fourth quarter of 2017.

Net sales orders for the quarter also increased 11% year over year to 11,509 homes, with the value of these orders climbing 10% year over year to $3.4 billion from $3.1 billion.

The number of homes in inventory was up 13% to 29,700, the homebuilder added in its preliminary earnings release.