On October 5, Lennar fell 5.06% in regular trading, trading at $75.77/share with turnover of $171 million.
New home demand concerns continue to weigh on the construction sector after Lennar and KB Home warned about deteriorating housing conditions amid 7% mortgage rates, while Berkshire Hathaway increased its stake to 11% earlier in the week, suggesting longer-term institutional confidence in the company's prospects.
The broader homebuilding sector showed pervasive weakness: D.R. Horton down 1.18%, NVR Inc down 1.22%, PulteGroup down 1.63%, Cavco down 1.42%, and Toll Brothers down 0.38%, reflecting sector-wide pressure from affordability challenges.
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