D.R. Horton, America’s Builder, is a fortune 500 corporation and ranked #1 on Builder Online’s list of the Top 10 Home Builders in 2008. Donald Horton built his first neighborhood over 30 years ago in the Dallas/Fort Worth area; today, D.R. Horton is America’s largest home builder with new homes and communities available in 27 states and 77 markets (D.R. Horton Annual Report).
In 2008, D.R. Horton delivered 23,915* homes to remain “on top” for a seventh consecutive year, and the company beat analyst expectations by minimizing the company’s year-over-year decrease in new home closings. In addition to building homes, the D.R. Horton Corporation offers homebuyers mortgage and title services under their DHI Mortgage, and DHI Title, financial operations. D.R. Horton is listed on the New York Stock Exchange under the ticker symbol DHI. View Stock Quote on MSN Money
D.R. Horton offers single-family homes that typically range in size from 1,000 to 5,000 square feet; these homes are priced from the $90s to the $900s. D.R. Horton builds single-family detached homes, condominiums, townhomes and active-adult homes in neighborhoods and master planned communities throughout the U.S.; the average sales price of these homes in 2008 was $233,500. Despite the slowdown in the real estate market, D.R. Horton still focuses on building spec homes in many communities due to their believe that most buyers are looking for move-in ready homes.
Quick Facts about D.R. Horton
- CEO – Don Tomintz (10 years)
- Corporate Offices: Fort Worth, Texas
- 2008 Revenue from home building operations: $6.518 billion
- 2007 Revenue from home building operations: $11.088 billion
- 2008 Homebuilding income (loss) before income taxes: ($2.666) billion
- 2007 Homebuilding income (loss) before income taxes: ($1.020) billion
- 2008 home closings: 26,396
- 2007 home closings: 41,370
- Average sales price of a new home in 2008: $233,500
- Reach: 27 states and 77 markets
- 2008 Year-End (Sept.) cash balance: $1.4 billion
For more information about D.R. Horton, visit them online www.DRHorton.com.
Forbes CEO Compensation, Don Tomintz
Consumer Affairs – D.R. Horton
*Indicates 2008 home closings as reported by Builder Online, the difference is likely due to the difference in year end calculations. For example, D.R. Horton’s year is calculated from October 1 -September 30 ; Builder Online most likely calculated sales from Jan. 1 – Dec. 31. The closings reported by D.R. Horton for their ’08 year were used in the quick facts above.