D.R. Horton, based in Fort Worth, Texas is one of the largest homebuilders in the U.S., with homebuilding revenue of $19.6 billion on 65,388 closings for the fiscal year ended September 30, 2020. To be sure, DHI may be number one based on deliveries while Lennar, whose average selling price is $100,000 higher than DHI's may be tops on revenue. The company offers homes in 90 markets within 29 states, mostly under its flagship D.R. Horton brand (63% of closings), and entry-level Express Homes (32%), as well as its high-end Emerald Homes and recently introduced Freedom Homes. The Southeast was the biggest revenue contributor, with 30% of the total in FY20. About 90% of revenue is from single-family detached homes. The average home price was about $300,000 in FY20. The company's financial services segment also provides mortgage financing and title agency services.
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Chris Graja, CFASenior Analyst: Retail