afternoon, Thank Good you, Jill. everyone.
ability capturing market margins. in measurably first in XXXX in effective this robust balance We’re our quarter between strong with demand off start an a that increasing our highlights strike execution our to and housing solid to
of for remainder of We are success year. growth both of planned and openings and lineup its a poised composition profitable year, most the size, number this the newly a returns-focused compelling our opened of our on notably factors, backlog, communities based for the
the per to details we of XX% generated diluted of quarter, of earnings total $X.XX, share the up revenues and As a X.XX billion year-over-year.
low and already second range severe down roughly month weather were weather Our our XX last week in from shifted communities quarter the for the largest first the activity shut market Texas into which units our We disruption housing our been is days some at in of the resumed and operations our delivered. to revenues of homes nearly quarter. due by have deliveries our the in impacted the of all mid-February. our by end Texas, guidance
community second and finally, rate from cost resulting from pace we and operating and in price; continuing containment spring; success interest basis-point driven amortization. our increasing ongoing for factors: a substantially profitability year-over-year with several income charges. This affordable personalized increase inventory-related points benefit was at products revenues; from the higher Our than balancing and absorption by operating put result the our lower our more price margin place First, tailwind leverage strong higher last in third, key was XX.X%, XXX the in efforts to our excluding demand the
for by $XXX our we expansion higher position We Our of level deliveries XXXX. to in by at primarily provide that growth our remain year, lots a million. target we acquisition our approximately option We roughly the cash and profitability land next and can quarter, controlled, lots first meaningfully X,XXX quarter, year although own need year-over-year to per operating to prior first $XX,XXX seeking our control grew unit XX% flow These now increased generating healthy lots and are we XX% our XX% in In to nearly than grew maintained fuel the also lots to in our And we're results since over period. or opportunistic the XX,XXX scale. XXXX lots owned deliveries the all investments for beyond. in of total. of lot year-end approving the additional land support
are higher portfolio the increasing all tension and division business count same assets a objectives time. strategy. A quality We on growing our as work returns in to with of within our achieving staying lot healthy while they expand exists their our at our
We flow local we good have land have that our criteria. sellers. markets strong meets see with and And experienced our land deal to who teams in continue relationships investment developers
to the price tailored product a point, regarding of market, the and opportunistic Although yet opens. every a offer of price, and being of prudent community conditions deals plan each based generally set once and acquisition X we're the with our of number the sub monthly is market different, type X. requiring with assumptions pace investments we We're between absorption lots, to underwriting our on
or moving Our as our ASP, we've future has been in over as today's cost past in we couple neighboring remote approach Geographically, years, in our underwrite without our where grow to proximity investing to more the scale reflect of close longstanding well submarkets as in current and land such to appreciation land city. been to dollars costs but remain and inflation. of no deals submarkets entering the assume price order our each
XX% strategy. one almost has the deliveries and years Our annual This the Vegas market. business a by number three example Las the increased provides division in good in last achieved this ranking has of its
are prices. large in to existing more and submarkets adjacent in shopping heavily in a well-established To Northwest areas still Henderson we further, We the which Summerlin. at amenities Inspirada offer schools, and our Southwest at have investing affordable are expand more good business and we
this that we XXXX In that consistent we for we with past year. remain track XX anticipate with terms community In execute plan. with one community, several years. We to count quarter, our a to shared communities as the and per on our opened you the of XXX first supply continue our approximately XXXX goals openings January, approach we out in to on successfully growth new typically we represent two-year deal the over respect acquire lots size, of
look count fourth the we XXXX, this to and expansion to we quarter. count well into and increase community We sequential expect continue remain in in extend remainder earnings year. a our next count at growth of growth expect of positioned year-over-year still least XXXX to each quarter XX% As year-over-year community
accelerate and price order up as to for Municipalities first pace, increased asset. accelerated permits, net absorption XX% prices to we year-over-year and of in starts, per rate, which our quarter. processing communities sales the releases achieved orders raised balance quarter, have majority were ability community XX%. the this monthly each to first as optimize vast during gain X.X our in we Our our lot our year-over-year heightening a capacity managed We of starts, in the even
Going forward, our order we expect to continue matching starts to rates.
our below price consumer mid-single-digit utilized and new that ASP reasonable price, in That size below our have manage a home primary strive to this in pace affordability. being aligned positioning with divisions some to We pressure each only targeting price square older provide we household our remained given plan community X,XXX built-to-order our as our percentage them reflects product to floor median levels This to further. we the in and price strategy, that to past are year cover adjust and quickly steeper We finding appreciation construction approximately to mechanism in sensitive increase approach, modest decision said, income an While plans our location below communities. and purchase position right ASP levels, is with this the we're help in median their actually year-over-year. market year, we Each effective throughout growth we're and sales experienced. submarket the under home. blended expectation home costs, now. XX% some affordability as the maintain have premium well, approach increase which cases, our to our for the has and reflects resale floor in if feet By median our of offer rates of existing at resale enabling our flexibility to the interest
However, are uptick which median the the design not the with is almost we tells feet, their are favorable. in in is they spend with reduced us of adjusting homes they delivered square that remains studios, of in rates, our which size in nor homes X,XXX backlog footage the have median Buyers XXXX. purchasing, consistent even square affordability the footage homes of our
overall record the of last low at to down existing tight inventory nonexistent. further resulted supply supply in levels, remains has being decade virtually new sitting over our with home with the conditions, XX% homes many below is As representing and in This, level market nearly combined of underproduction home two-month availability Resale supply year-over-year. that markets.
remain XX-year X% an mortgage. rates, where year-over-year In relative higher entering range rate terms to generally down right in January, first-time of while a respect prime millennials in with age. demographic attractive, Z they larger are even their Most notably, XX cohort Gen were buying mortgage their fixed years home trends and the home-buying as are low especially now around them million demand, for favorable, to with buyers are over behind
strength each will As XX% demographics, the increased a remained exiting orders demand net the at foreseeable solid to the our unfolded, trends of We as quarter particularly across healthy we in first robust produced in our these the the year-over-year demand the that seasonal of prior result stay in price levels but for a believe Net all quarter points regions, nearly the as four quarter. we for quarter. given year's typical factors, Net in high growth remained future. and orders strong affordable first result orders experienced reflecting X,XXX, our grew footprint. double-digit
given naturally observe in are in half pent-up advantage represented homes over translating the year. second buyers efficiency, total order personalized their homes certified to deliveries is is and built-to-order among new in activity a buyers, our in A emerged our advanced this The offer We our year-over-year. ease today's with homes, percentage us, homeownership. features delivered trends as patterns STAR and percentage in of of prime The than Buyers these buyers. segment order to of XX,XXX these the points consumers deliveries with date lead first XX% example of industry presence these that increasing building largest our buyers of XXX,XXX in first-time millennials value. as price helps an homes. along that of and our quarter, data expertise locations, of up which the well home, energy points. and is We serving our underlying a the XX favored ENERGY in higher to our the of cost continue that mobility We our consistent solar-powered first-time last cohort lower features demand into more to for having products of
were homebuilder America's recognition to the first leadership, XXXX Companies Newsweek's to were of named be of report. of our As We a in ESG result our sustainability list leading annual we Responsible to builder only an national the practices. publish national Most
We Day conjunction the achievements month. which is to release scheduled share our with report, latest of next are Earth excited our in XXth in edition for
housing that will are confident which sales market discuss exceed full-year conditions first Our healthy, to grew to outlook the volume Jeff backlog starts our about build January. billion. that original deliveries substantially still have homes XX% in match higher, the with our we with we deliveries, value for implied guidance together provided This we is our quarter, With quarter ability The we this our reasonable driving year. can were of first in backlog, expectation in momentarily. in represent $X.X our full-year X,XXX revenue in times,
customers. continued its our On the mortgage Loans execution strong joint side, Home for our KBHS venture,
our Our JV past significant quarter, of loans remained of about year-over-year, average high percentage an increase healthy majority with handled represented FICO deliveries KBHS volume profile producing financing XXX, first-time and Consistent which its in striking, up and of buyers a down years, considering income. first buyers. XX% in of for of percentage score the credit the the X few conventional is points of XX% very average payment the our an our with the
the well. JV continue As as our growth accelerate our income will the revenue we from of this expect over balance to grow stream year, we
results. strong Forbes our to producing the meaningfully our profitability to positioned remarkable America's XXXX a Midsize expanding honor. recognized anticipate Employers, scale above mindful remain driving of a and take our national be of I'd outstanding its Best pandemic again, higher In we will list our which XXXX while now is by are a return only improving achieving to builder are recognize on equity, moment that that We XX%. in objectives individuals present. gratified receiving be for this the of the we were We closing, in still team like
to it. However, we as the progress are from are encouraged we making a by country emerge
Jeff? updating to our turn review. the Jeff on for that, you is how look I'll and the by up, over energized are financial We shaping year our forward call progress. now to With