Paul Prizbilski's questions to DR Horton Inc (DHI) leadership • Q4 2024
Question
Paul Prizbilski asked if accelerating incentives were causing issues with the sales backlog and whether the primary barrier for buyers has shifted from down payments to monthly payments. He also requested specifics on the average mortgage rate promotion offered in Q4 and October.
Answer
EVP Jessica Hansen stated the cancellation rate was stable and manageable, indicating no major backlog issues, and confirmed affordability remains the key challenge. President & CEO Paul Romanowski said promotional rates are in the 4.5% to 5.5% range, with Hansen adding that the average rate in the backlog was 5.2%.