D.R. Horton plants flag in Northwest Arkansas
The nation’s largest homebuilder is now operating in Northwest Arkansas.
Texas-based D.R. Horton Inc. is building and selling single-family homes in Gentry’s Pioneer Woods subdivision. The neighborhood is near the Gentry Fire Department south of West Third Street.
According to Benton County property records, the company bought 28 lots from Paul and Connie Church last fall for $1.03 million. D.R. Horton recorded its first Arkansas sale in April, a 2,031-square-foot, four-bedroom residence for $276,790 ($136.28 per square foot).
Founded in 1978 in Fort Worth, D.R. Horton has operations in 104 markets in 32 states and closed 81,622 homes during its most recent fiscal year that ended March 31.
The company builds and sells single-family homes through multiple brands that include D.R. Horton, Emerald Homes, Express Homes and Freedom Homes. Prices range from $150,000 to more than $1 million. D.R. Horton provides mortgage financing, title and insurance agency services through in-house subsidiaries.
D.R. Horton is also planning to build in Siloam Springs’ Heritage Ranch neighborhood off of North Carl Street, north of North Mount Olive Street.
The extent of the company’s Northwest Arkansas expansion is unknown. Multiple requests for interviews have not been answered.
According to Builder magazine, D.R. Horton had $27.9 billion in revenue in 2021. The company reported $15.052 billion in revenue during the first fiscal six months of 2022, better than the $12.38 billion in the same period of the previous year. Net income in the first six months was $2.588 billion, also better than the $1.729 billion in the same period of the previous year.
The company’s shares (DHI: NYSE) closed Monday at $66.50, down $3.89 on a broad market selloff. During the past 52 weeks the share price has ranged between $110.45 and $64.13.