good and everyone. Larry, Thanks, morning,
while During by representing improved diluted grew to quarter, The generated sale in gross home sale a million. of expansion quarter margin income $XXX basis billion, the third XX% increase in to sales revenues revenues operations in we from share, resulted $XXX.X margin from XXX third the XXXX. or $X.XX from home year-over-year our a net and growth of XX% per million Home pretax $X.XX increase homebuilding points. income XX%
in due pretax through accelerated we included notes which increased mentioned, in services a As the $XX.X of cash XXXX $XXX.X Financial to tender unsecured January is a of year-over-year pretax million, million. the loss retirement million in our retirement income. during quarter. Larry offer $XX.X of homebuilding income resulted The XX%
All volume services companies increased operations financial homebuilding benefited of the the our during from our of quarter.
competition mortgage of a conventional Our was a costs gain recognized servicing on the rights in the market, from mortgage and company by sale mortgage in million our rate. period. increased increased increase temporary This offset decrease primary $X.X also capture during the benefited compensation-related mostly
which quarter. increase to to in a windfalls increased rate credits. a XXXX year-over-year increase the vesting in partially by in was energy and offset third recognized exercise rate upon XX.X% The decrease due was Our for equity home tax of the tax tax from XX.X% primarily awards,
delivered the For in year-over-year remainder for of an during quarter. estimate XX% potential by XX.X%, to year, quarter, currently discrete third the X,XXX the we had in number or an of items policy. Homes excluding approximately tax any increased the not backlog of in and tax homes to effective changes driven increase accounting rates any start we the rate
convert and impacted by continues increasing closings labor shortages. backlog into negatively permitting material times to and to ability be Our
a times implemented during of quarter the the result, we a a of XX% XX As to third that of increase was approximately across from homes over below of range X of direct to $XXX,XXX. The second our cycle price and extended majority quarter homes XXXX. average delivered result cycle communities was saw The number sequentially the we our the past price months. of selling estimated The weeks about X,XXX result of increased times the units increases increase the was by experienced. quarter X,XXX to previously during delivered
segments largest implemented were overall. price the For we These highest each partially between level year-over-year driven increased the improved the are costs. from with selling our well price improvements gross We past margin by and year-over-year XX.X%. sales by X,XXX experienced from the communities which $XXX,XXX.. and absolute between by over basis building our increase home to year, fourth of Gross across West been and quarter, our with X,XXX margin reach home improved to all sales increases labor segment of anticipating units XXX an deliveries material points offset nearly showing have as having as home $XXX,XXX across average
experience increase pressures seen fourth assuming While other we home on between building lumber to we materials adjustments. the margin to sales or prices costs. XX.X% decrease warranty from and for recent months, is and impairments continue expected XXXX XX% cost have quarter no Gross in to labor
increased quarter driven expenses. million for general administrative dollar total third the expense primarily by $XX.X SG&A third from by the XXXX increased and XXXX quarter, Our
Our increased fourth of the expenses quarter General during due basis million our home expenses, that compensation stock-based revenues volume. $XXX,XXX general fees and to XXXX. $XX for XX increased and marketing accruals. SG&A decreased increased marketing year-over-year -- result million relating currently of percentage increased in compensation-related totaled to sale expenses bonus million expense $XX a and to between expenses X.X%. will points quarter We third closings We including of master a to increases $XX.X the estimate administrative as administrative and as grow
demand limiting environment. a high basis we XX were year-over-year down percentage were expenses of marketing in revenues as sale However, home continue points expenses able this to advertising as
decreased The as home revenues of control Our during housing percentage -- sale period these year-over-year steps taken commissions we expense as new demand basis points strong have for this our unit value a orders dollar of to This year-over-year in costs due absorption XX% billion XX a decrease to decreased decrease year-over-year sales orders. by in reduction XX% net was a driven pace. XX% monthly our net $X.XX to of
the for quarter pace per community of month. was orders XXXX absorption X.X sales healthy Our third a per
of patterns quarter levels during return this over the demand across on The remained also increase the it calls. orders communities price of third more selling have While the was quarter. due pre-pandemic third with XX levels of absorption was year-over-year quarter our from based a prices the standpoint pleased The of increased our the believe XXXX, moderate seen our experienced XX% favorable sales sales to past as months. raised fourth of October. advanced of Overall, year-over-year XX% in we normal we the we this seasonal net net decrease on to highly in most as as start the represented a mentioned third efforts well point the our the in to as an have decrease average We're from quarter from pace prior XXXX. activity year-over-year we've orders
during While more firm than to remained materials price the to related costs and third quarter, input building and offset labor. continues slowed pricing higher the increases
of year-over-year XX% metrics homes backlog in value quarter in backlog decrease at XX. third despite increased on activity. Looking The Slide the dollar
the cycle This of XX% backlog XX% biggest a the started at challenge and the the brings within lots development lots. X,XXX the lots number lots marks well We construction lots was and subdivision third quarters, for activity during exceeded third Austin, quarter, for included last which lots year-over-year. of total our While conversion fourth entering quarter, during time we the times Texas. year in finished land we quarter beyond. on approved our spend approval believe XX% in remain $XXX million. backlog and acquisition We the X,XXX to for the representing approved efforts, frame XX,XXX positioned stage first are our acquisition closed increase Total quarter about with our X,XXX the of to or construction during X on acquisition XXX
the result of prior a XX,XXX quarter. our year to lot As from activity, end and land our acquisition a quarter the was supply approval increase lots, XX% total representing nearly
controlled for was lot this our in supply activity, XX% continued combined approval option solid platform We In our supply, acquisition with and of addition, that a end. via and XXXX believe as lot beyond. provides us of with period growth lot
count year-over-year. subdivision from X% the number largest ago. East subdivisions in Boise $XXX And subdivision quarter an quarter, of open active the our first actively both in of segments with Austin X% finished the out acquisition for Mountain saw at XXX East down end. market Active and Active the Our of up in lots increased to by during subdivisions the segment third sales were with to the quarter, year expect increase. we end be end year. the the We're selling was West this the experiencing new of of in as segment a We
XXXX. Also, the XX, to potential of on active the indicates soon-to-be reiterating out to new out, work. municipal September could this in as as on available of Through metric. active delays can over inactive closing see you volatility decrease not verge we work New have guidance begin short-term of number in few our This of of a months communities and we and subdivision community the count, strain openings our as that open remain resources for due current environment development the selling subsidation in to the we complete next number from count communities. communities this legacy year-end any are approvals our challenging the
the the end see However, first third XXXX end we season. communities for the to reached in before quarter expect from quarter time the active we increase do our of spring selling the of an at XXX
financial have we further we provide summary, timing to pleased subdivision end visibility backdrop to the active from more quarter housing point the community the In While through expect remains believe third growth the -- we as will our for are these of we guidance XXXX, that wait with of until favorable. further and results openings
current continue While land we the continued in current our poised XXXX. backlog term, position expect the have near supply issues for chain us into to growth and
total not in net ability remains subcontractors behalf employees Our as for to session. for business our work strong to impacting of the deliver to our billion for mitigate grow continue their to efforts, thank debt-to-capital we liquidity financial position in as the the end, a to efforts position and with all of work us XX,XXX hard and now XXXX that, and operator be I quarter providing $X On tireless would together of are homes industry. the Without call supply new the back of our turn poised chain XX.X% we like question-and-answer would we their full year. to and homebuyers invest our with over new ratio continue company, the of issues the With I today will to more than a our markets. to
