D.R. Horton Is Well Positioned Amid a Difficult Housing Market Environment

D.R. Horton is the largest US homebuilder, with an extensive geographic footprint, ample land supply, and wide product breadth. The homebuilder serves a diverse range of homebuyers, including entry-level, move-up, higher-end, and active adult. Recognizing the growth opportunity from price-conscious first-time buyers, D.R. Horton launched Express Homes, its entry-level product, in 2014. D.R. Horton's focus on affordable price points has paid off, in our view, and homes priced at or below $350,000 now account for over 50% of delivered homes.