NVR Stock News

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RESTON, Va. , Oct. 22, 2024 /PRNewswire/ -- NVR, Inc. (NYSE: NVR), one of the nation's largest homebuilding and mortgage banking companies, announced net income for its third quarter ended September 30, 2024 of $429.3 million, or $130.50 per diluted share.

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NVR is well-positioned to benefit from high but declining mortgage rates and low housing supply, making it a strong "Buy" despite its higher valuation. Declining but high mortgage rates are expected to boost buyer demand, benefiting NVR as homeowners remain locked into lower rates. With favorable macroeconomic conditions, NVR is likely to continue its strong performance in the medium term.

NVR shares have surged 29% year to date, as investor sentiment on the company and homebuilding sector more broadly has shifted. Despite strong performance in the latest quarter, the current valuation appears less attractive due to a slowing housing market and high mortgage rates. NVR's Q2'24 revenue grew 11.6% YoY, with strong new orders and a solid balance sheet, but margins slightly decreased.