Lennar warns of hurricane-related delays to new-home deliveries

Hurricane Harvey Largely Spared Homebuilder Lennar’s Results. Additionally, given the disruption from the preparation for the storms, clean-up after the storms, and restart and normalization of business operations, we maintain our estimate that approximately 950 closings will be pushed from 2017 into 2018," Miller said.

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Stuart Miller, Chief Executive Officer of Lennar, said, "The expected shift of deliveries this year not only takes into account damage from the storm but also short-term labor challenges, power outages, potential delays in new home utility connections and building department inspection and permitting delays.

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Lennar’s Florida, Atlanta and Costal Carolina communities only sustained "minor damage" from Hurricane Irma, but the natural disaster is expected to delay about 700 deliveries.

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services and Lennar Multifamily.

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Lennar said Irma likely will delay roughly 700 fourth-quarter home deliveries until 2018. "The expected shift of deliveries this year not only takes into account damage from the storm but also short-term labor challenges, power outages, potential delays in new home utility connections and building department inspection and permitting delays.

Lennar Pledges at Least $1 Million Toward United Way hurricane harvey relief fund Homebuilder Makes Immediate $1 Million Donation to United Way of Greater Houston and Matches Employee.

Lennar is the leading builder of quality new homes in the most desirable real estate markets across the nation. Our home plans demonstrate our commitment to our customers by showcasing outstanding new home construction and a dedication to excellence in homebuilding.

Home Builder Lennar Warns on 4Q Closings – FloorDaily.net – Miami, FL, November 5–Lennar Corp warned that it may have to delay closings on 600 of the new houses it expected to deliver to homeowners in the current quarter in part because of slowing demand.

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Lennar Q3 New Orders, Deliveries Rise; Q4 Deliveries To. – Lennar Q3 New Orders, Deliveries Rise; Q4 Deliveries To Reflect Hurricane Impact . RTTNews.. potential delays in new home utility connections and building department inspection and permitting.

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