Lennar Rises to Highest Since 2007 as Home Orders Surge 20%
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Lennar Corp., the third-largest U.S. homebuilder by revenue, rose to its highest level in more than four years after reporting a 20 percent jump in new orders as the U.S. housing market shows signs of stabilizing.
Orders increased to 3,027 for the fourth quarter ended Nov. 30 from 2,520 a year earlier, the Miami-based company said in a statement today. The shares gained $1.49, or 7.2 percent, to $22.25 in New York, their highest close since October 2007.