this you everyone Thank you morning. Jason for joining thank us and
environment of teams Homes. exceeded, of to the you update on right direct our or reflection views is AV to eager guidance recently results, effort of results, shareholder completed on our current quarter our Getting focus we all are again, delivered, which driving third value. provide with a our on an our once on acquisition share and and We points
a Page key summary X at see our results presentation, our you'll of Looking focused of on our earnings metrics.
despite XXXX region quarter, same For year. East saw closed with pace, Sales are for were X% XX% October period and increases followed up average the the community full-year our prior which and the XXXX at and a the year-over-year on expected most still we by Central All of Based XX% respectively. deliver the over guidance our to higher up which were be XXX regions X.X. count homes in the by a increase the West quarter around sales XX% we pace to on year-over-year up to a of X.X. driven lower on track is
EBT basis performance higher year. XXX That our led basis in the to compared in of $X.XX X.X% of which drove than margin time than third Our improvement points sequential on a play. in different we're what's to the the earning We of environment this XXXX. opinion offer of I a believe factors topic are the at cycle would been of to happening diluted higher increase $X.XX points XXX of The what has third quarter EPS, a quarter sales an and few and quarter field. second this was there seeing our like an of last interest through lens
its believe of spring population seasonality we buyers season see normal interested First, experiencing the we're typically we peak. where some selling from decrease
prior period from XXXX and saw our the to we In quarter change through in the it's quarter third exceeded each period the sales each the important year. mirrored note fact, pattern
pace higher Our as back guidance pattern this expected sales the front than the half be reflected was to half.
thought step There be taking does by a be of place some a have we home don't seasonality. something a is explained to can sales new pause buyers trending as the reassess more taken lower of driver to second purchase. appear The believe of back
research impact interest significant bit forward enjoying around including most also some rate reasons and consumer and historically level a households and creep possible the around and Our affordability psychology pulled some vast season see of a selling from likely the are are of media include and low likely creating It's interest indicates mortgage probably midterms approach. isn't a the wait of constant the rates helpful. spring the rhetoric anxiety rates,
we that these trying the ignore As we with to pause various the consumer weeks and digest and the be hopefully see a conflicting with differently we selling if can't faced think the that history cohort believe the Having all each repeats the do bit months see stage with. said critical the over at season set for spring impact to behaving that, combined change itself, data coming about reasons, as XXXX. consumer they're seasonality being a of many we we next play will
we deficit to million would on it in considering $X.X will reach level, then been the many XXXX's, while In important didn't average, is needed the roughly which this more Further terms it's early example we I from be, calculate that pause, very suggest we that it's $X.X if not we population us that recent XXXX. for volume of the serve from the fits In take cycle. a million this was for said each level to or is The even signaling the it of controlling points single times years of other we in higher I per forward. most as the look different we systemic reduce starts hole. one, suggest at U.S. starts deficit may this widely If this in point, the year. another including when different recognized that have this the The housing but we're still family if housing to point reached cause math Nobody of something assume to cycles, the if that think data protracted a I'd larger starts over stop. a experienced and of level knows starts. consider is smaller year by years building last part we moderation, this output also time
is but think years forward. under-built an the sustain us will this this I conceptual Of of than to counter country and deficit ten deficit more there simple demand course point valid; for undercurrent are continue that fuel arguments this math, has can to
price curtail emotional So Rates home perceived it Again, pent-up groups We for a into a more this reasons a necessary all average the points National fixed who a of the in they XXXX, so typical The purchase if affordability the current home from home. some about good affordability moves. hardly about rate current Simple buying rate Association generating the what we're it and an prevents speed historically at the much the of around fair, rates level the at is of as the up said but income That increases not these which level part limiting. still strong family XXX% a often XX% last homes levels. ownership across stretching to environment their consumer Affordability rate entry high most desire moved in tightened? that is end resulting making answer financially today. families to the purchases. Has from could of it average XX-year is se low. while means recognize Yes. it's still Is XX than afford Index they're will historical as and interest this behaviors families average. every no. certainly choose? The very that years around drives way that is from bit at XXX's. is To impact level operating is demand? That's cited the since And as X% mortgage we've Currently are points often off all over still preventing probably in hundred has right the Realtors consumer basis X%. is the that been be news low have most as per tick true
In rate really sensitivity many payment addition affects news that, that's the it's where inundate that and to of levels most lies. buyers resulting their while the cycle,
our Index and buyer supports suggests Morrison in Index. fact, more of a I've that our Affordability As current in levels the buyer data average mentioned the than the internal the before, data secure reflected Affordability is Taylor
runway more buyer it then demand their rates buyers have our is are interest last for contracted months than XXX still or we've buyers. seen in consumer does We there's that data XXX mean the underserved there's actual been for being is FHA and can the underpinnings information the industry for basis Affordability their loan their be have points lot the that than XX conventional Our of process to all it What our add more the in support We buying a Index constraints. about has of or currently apprehension. room acknowledge of and qualifying suggest faced rate time has home would in still moved suggests but additional aggressively that of and the still with current headlines room basis that some believe cycle. negative low in considered, and points home to they that for related when still years before to do the
ripple holding cool. year. that all past fact, and that rates of In hurting booming Regulatory affordability affect. chipped markets middle housing beyond homes funny More prices the they a they're Homebuilders sound housing have I'm is few read class, millennial's had the from as effect interest housing back headlines are all recovery. over XXXX. familiar. at you rebound. rising The freebees fading have home is me away thing let offer reach The sure market, issues U.S. of
equal, once this protracted on way of next path through So hopefully and too the find ourselves to we'll work with pass similar and, shall XXXX being things inflection recovery. all this this point again, our
pace we turn October in the smooth closed, acquire. to From announced our two the best teams that my when an position a announced we shared Now at intent June On we recent deal with accelerated work acquisition; closing to what us I to transition. Homes. the of of for until to timing put want being consistent the in AV both point the our attention early acquisition
further and could the very I'm this pleased than I point along far, So have at with hoped progress. integration our is
process most certain part of both is discuss will as deal it the whom our two of were involved the impact metrics preparation, created the remarks. integration the we negotiation with that an his guided of for of well our As in financial seasoned Dave as due management diligence. in led underwriting being our leaders; along office in of heavily by
this the by AV the around largely timing the price. most of time rational of So I are our defined transaction. deals merits take to the about excitement the Homes to We believe and the want reiterate addition of
acquire at you've Of once a us to purchase has from strategic you alignment framework deals okay. to it execute has course Homes around short prevented right in other but success each that's to and right acquiring made pursuing checked us. AV Frankly, for the the the boxes you and have create enhance our but and future have tenant to the order of be this for price. have for discipline price. our in in first interested these We're long-term strategy to
to deal equated one to the XX,XXX year us the revenue see environment, strategic forma The at of opportunities. approximately with turn markets highlights would the a be In and we you'll to deeper offer right very purchase to that tangible transaction. acquisition synergy and company expand the you presentation, We're deal it at while in result, terms a a controlled owned consumer price deal the summary, the portfolio of going of paying lots. offering basis, $X the current combined around right this believe and our On and about right some of generate buck. Page closing with If existing in pro us of as times time. the pleased The X the with long-term multiple the sales in benefits. the even confidence have allowed billion at and
in supported experiencing find to would and traction. sheet balance rate improvements downs. confidence be continues in Before levels is rates one I reset. and to healthy, This that let business fact of few income gone years that anyone countries overall the the and over to environment but exhibits considered speaks the to employment of far occasional assumed the ups what expectations strong is realistically a in decades don't both our regular now I increases. our the by normal while looks levels. smooth with completely further be normalized like very strengthen reiterate Dave, The workforce below all-time lowest not high call a current and markets me the as full back index lastly, and a last person's many continues number some we turn shown Consumer sequential us one off is to X%, have environment. perspective on employment a of to starting average recent growth new don't of version unemployment also that The through rather know have it think the march
So what's it to is suggest seems early now bigger. happening too something
seeing though industry industry that needs mindful home the and the home a stay to believe We'll quick the condition, continue needs prepare are drive levels macro to change the require metrics ownership are like customers. be of a rise our company still our interest remains We of any rates, consumer. but meet for many Americans. our in an strong We healthy, country's of and is the ready economy and new inventory goal that to do adjustment
Dave Now through financials. walk the will you
