D. R. Horton
America's Builder
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| Traded as | : DHI S&P 500 Component |
| Industry | Home construction |
| Founder | Donald R. Horton (Founder & Chairman) |
| Headquarters | Fort Worth, Texas, United States |
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| Website | www |
D. R. Horton is the largest home construction company in the United States based on its 37,380 houses sold (up 26% year over year) and closed 36,648 (up 28% year over year) in fiscal year 2015. D.R. Horton posted revenues of $10.7 billion in 2015. D. R. Horton was founded in 1978 by Donald R. Horton in the Dallas–Fort Worth metroplex. The company's headquarters is located in the D. R. Horton Tower in Downtown Fort Worth. D. R. Horton operates three separately branded divisions: Emerald Homes, Express Homes, and Freedom Homes. Express Homes is tailored to entry-level buyers while the Emerald Homes brand is sold as luxury real estate. In July 2016, D.R. Horton announced the launch of their Freedom Homes division. The communities will be built as active adult housing and are set to be debuted in Florida, Illinois,Texas and Arizona.
D.R. Horton's geographic exposure extends from Texas to the Southeast, Mid-Atlantic, West Coast and Southwest. The company has minimal exposure in the upper Midwest and Northeast. Single-family detached homes accounted for 91% of D.R. Horton's sales in 2013. The company also builds condominiums, town homes, and multi-family residences. D.R. Horton also operates a financial arm, which provides mortgage financing and ancillary services such as title agency services. The company doesn't maintain mortgage exposure on its balance sheet. It immediately sells the loans to third parties. Also, most of the company’s loans are agencies—Ginnie Mae and Freddie Mac. Financial services account for about 3% of D.R. Horton’s revenues.
In April 2015, D. R. Horton expanded its operations in the Pacific Northwest with a $72 million purchase of the homebuilding operations of Pacific Ridge Homes in Seattle, Washington. The acquisition included 350 lots, 90 homes in inventory and 40 homes in sales order backlog. Horton also acquired control of about 400 lots through option contracts.
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Wikipedia