Thank you, Mackenzie, and everyone. morning, good
our our Chief Erik VanHyfte, and Officer. Curt Chief Operations Officer; Heuser, Financial is me Corporate Joining
on will always, market our strategic I As my and focus update the priorities. on an remarks
Erik amid While Curt of and our on third of benefits hurricane-related execution our am and the clearly our and our demonstrates rate market, I outstanding guidance. results economic and proud retail volatility, our and the portfolio will well and quarter, strategy, diversified as discuss interest which as financials the team's geographic share to provide continued disruptions. thoughts will uncertainty land consumer detailed
strong per To volume gross which share to average home Hurricane Bellin increase in both in margin our a closings year-over-year X,XXX exceeded including delivered critical price leverage the $X year-over-year generated particularly X book diluted hurricanes the quarter growth approximately begin, our of an I improved the of and in there proud am per XX.X%, share final again, guidance, a considering were over during and value $X.XX income, revenue with XX% during to our $XX. this gross weeks. Once and X closings our with third homes of coupled over at SG&A quarter, earnings financial we XX% of billion $XXX,XXX, services producing margin
withstood reported. the communities well minimal rains damage our storm's with Thankfully, and wins
sites, resulting disruption. notably, combined land However, development. impact in several weeks in communities, of we of the our these our recovery, Carolinas under storms representing protocols, the construction days Florida, With X robust and required the has offices Georgia, consistent advance with on then water cleanup safety nearly X greatest days for of and worth and set sales the our XX% sizable of a storms Most portfolio. excess a total portion and impacted
to believe gross lifestyle I As result, our resort all closings impressive, are the communities a outsized quarter revenue margin contribution more our margin. third and and particularly given better-than-expected
timing delays risk While be there heightened to lasting be will homeowners of the of insurance, specifically in will most availability believe I coastal some storms, markets. temporary shrinking related due the impact to the
Taylor as wholly rate. Because increased the site subsidiary, built Fortunately, premium compared the to we via to newly offer is lower has a coastlines, Morrison market quality are for of of our the and customers, existing away our quarter, well-priced from of third than a strong Insurance homes had insurance older owned Services, the degree. our which coverage typically policies able XX% capture selection careful average of to generally lesser and our construction homes
and obstacle for do watching closely an a buyers. been that we change are evolving not market are generally not insurance in dynamics, has expect the meaningful we insurance availability our While pleased
by while demand regions, and Homebuyer was the solid markets, the Central more Turning generally now to led East Coast mixed. was West in most the quarter.
on in recover and a into quarter, traffic on high shared September. in call, begun with second quarter volume translated see which activity have I note improving order to third July, June throughout our As we the ending
the increased absorption community. pace monthly of X.X orders our X% total, year-over-year driven per a net quarter, during In by
with been yet the year-over-year resort Florida healthy growth, XX% in heavy By consisted While disruptions. demand another in early consumer XX% the On Brent level, group, trends XX% hurricane generally orders business XX% third for even has impact of our consistent lifestyle. of were this quarter seasonal still October, segment our and and Florida. move-up of a orders basis, strongest in hurricane-related as lifestyle even entry resort with with
rate was move. largely Meanwhile, rates increased while in the September, range Reserve the entry as X%, its our move-up sales X%. long mortgage more Federal range announced somewhat bound been Since the anticipated have market level the modestly at up the in mid-X% weighted reduction
This purchasing to consumer's prices sales power. needed. finance in improving and the lean to our customers' base while our continue margins, to our allows circumstances we lieu floor, incentives unique each maintain gross primarily us protect better customizable On on adjustments address home approach as of price all communities
dollars our buy-down. This for why first-time buyers. or use Many diversification of costs our forward around third interest is towards remained mortgage to rates just below-market prefer instead their relatively are temporary half commitments margins. allocate secure at our closing supports closing, Importantly, costly consumer has of our one of incentive gross strong our quarter X/X which reason to buyers of
lot revenue reflect homes. In we addition, primarily on premium our sizable and the option built earn margins tube
the XX% basis In of home our On revenue to-be-built approach. third and [indiscernible] in our points home year quarter, averaged spread quarter third a margins, this $XXX,XXX accounted the Tubibuilt the closing of our a This diversified from ago. to of or combined benefits for again contributes per several Homes spec between sales, down price. average reinforcing XX% basis, hundred our XX%
more both benefit, have are margin we limited sales the to-be-built for able to better spec addition offering found and options. builders to compete we homes by that In against with
control for buying more a been process. take have home shoppers tools online the of looking to option great Our
and rules for Realtors we opt way by home new whom, more seeing governing reservation customers Following Association realtors are of within online National get the our the self-service paid system.
an record quarter contribution a third sales. online the to for year rate reservation a fact, In and XX% with conversion the brought of highs XX%
with back, deficit due we Taking continue reservations formation. a step household to undersupplied Realtor to our of a meaningful participation market housing on unit years continues the online with relative improvement believe to multimillion downward that to tools remains severely underbuilding trend year-over-year.
Texas. historic discuss gravitating been especially in portion substantial existing a norms, impacted to Florida listings loosen home just a our meaningfully the given not in towards of competitive, resale While truly and Erik as has are and We will have market communities the with believe product started not back listings moment.
meaningfully At company's regardless attractive our ability last we permanently Taylor Morrison, historic is many our norms. operational of and strengthened growth earlier strong macro than long-term that capabilities the has year, are the outsized we since this This reflected refining in which ever-shifting believe targets years. each more our our of introduced and over that been backdrop, the drive expanding to scale returns
expect on This home include absorption low year, closings targets gross just annual growth X approximately to shaped to XX,XXX XXXX around meet mid- annualized for of closings margin go, we to high-teen closings or company. equity. exceed home up to XX% year has to at growth These of mid-XX% our and to a and XX.X% X milestone a pace, return months gross be with each metrics low margins with homes these double-digit as another
into favorable the our need that, year yield With head homebuilder. XXXX, another are will for over strong performance, turn emphasis positioning driving capital-efficient by me strong let on and new growth the long-standing we As our of construction now confident a call tailwinds supported as to that diversified we Erik.
