Homebuilder cancellation rates are normalizing—fast

D.R. Horton's fiscal year starts on October 1st and ends on September 30th. In order to create an apples-to-apples comparison, D.R. Horton's results have been adjusted in the chart above to a calendar year. For example, D.R. Horton's Q2 2023—which ran between January 1, 2023 and March 31, 2023—has been labeled in the chart above as Q1 2023.
Chart: Lance Lambert SOURCE: Earnings reports from Pultegroup, KB Home, and D.R. Horton
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