Lennar Earnings More Than Quadruple on Demand for New Houses

Lennar Earnings More Than Quadruple on Demand for New Houses

David Paul Morris/Bloomberg

Builders broke ground on new single-family homes at an annual pace of 535,000 in August, the highest rate since April 2010, when buyers rushed to take advantage of federal tax credits designed to stimulate the market, the Commerce Department reported Sept. 19.