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Lennar Corp /New/

LEN

Filing: SEC 10-Q
Period: Homesites controlled or owned at 2026-02-28
Basis: Editorial filing; Read original SEC 10-Q ↗

Sankey diagram of Lennar Corp /New/. A complete text table follows the diagram.

Lennar Controls 98% of Its 497,377 Homesites Without Owning Them

A land-light pipeline spans five regions while direct ownership equals only one-tenth of a year of homesite supply.

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Source & review

Read original SEC 10-Q ↗

SEC accession: 0001628280-26-024352
Filed: Date not recorded
Reviewed: 2026-07-28
Status: Individual filing review complete

How to read these figures

Every Sankey value reproduces the filing's controlled-and-owned homesite table. 'Without owning them' distinguishes contractual control from direct ownership; it does not mean Lennar has no deposits, commitments, option costs, consolidated land-related liabilities or economic exposure.

Labels and narrative explain the filing. A category marked “arithmetic bridge” or “residual” is calculated from reported totals, rather than a separately reported line.

South Central holds the largest pipeline at 150,219 homesites and delivered the most homes in the quarter.
Only 11,086 homesites sit in owned inventory, limiting direct land ownership relative to a nearly half-million-site pipeline.
18,515 new orders exceeded 16,863 deliveries, while Lennar's mortgage arm captured 83% of its homebuyers.

View accessible tables

Financial categories · Homesites controlled or owned at 2026-02-28 · Homesites
Category	Stage	Value	Notes
Lennar homesite pipeline	1	497,377	497,377 controlled or owned homesites
East	2	115,615	23.2% of homesite pipeline
Central	2	130,870	26.3% of homesite pipeline
South Central	2	150,219	Largest regional pipeline
West	2	94,463	19.0% of homesite pipeline
Other	2	6,210	6,210 homesites
Controlled, not owned	3	486,291	98% of total homesites
Directly owned	3	11,086	0.1 years of owned supply

Financial flows · Homesites
From	To	Value
Lennar homesite pipeline	East	115,615
Lennar homesite pipeline	Central	130,870
Lennar homesite pipeline	South Central	150,219
Lennar homesite pipeline	West	94,463
Lennar homesite pipeline	Other	6,210
East	Controlled, not owned	113,874
East	Directly owned	1,741
Central	Controlled, not owned	128,559
Central	Directly owned	2,311
South Central	Controlled, not owned	148,021
South Central	Directly owned	2,198
West	Controlled, not owned	91,188
West	Directly owned	3,275
Other	Controlled, not owned	4,649
Other	Directly owned	1,561