Lennar says housing shortage should be stabilizing factor for market over time

Says 2023 shaping up to be ‘complicated, volatile’. Says no way to anticipate what comes next. Says primary focus is on cash flow. Says projecting flattish number of deliveries in 2023. Says interest rates have continued to be primary headwind. Says housing supply shortage continues to drive customers to stretch their wallet. Says still believes housing market is beginning to find a point of stabilization. Says cancellations have been normalizing lower. Says housing shortages are major concern across the country. Comments taken from Q1 earnings conference call.