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Total Backlog
Indicates the total value of homes sold but not yet delivered, providing insight into future revenue and demand for new homes.Backlog has been trending sharply lower since late‑2022 with recurring Q1 bumps that fail to reverse the downtrend—large step declines at year‑end suggest weakening order flow or higher cancellations. That shrinking backlog meaningfully reduces near‑term revenue visibility and ups execution and liquidity risk for a growth builder; management will need to show stabilizing orders, tighter land/development discipline, or margin recovery to reassure investors. Watch upcoming order rates, cancellation trends, and incentive spending for signs the slump is structural versus seasonally lumpy.
Date | Total Backlog |
|---|---|
Jun 30, 2026 | $1.15B |
Mar 31, 2026 | $1.11B |
Dec 31, 2025 | $821.29M |
Sep 30, 2025 | $1.17B |
Jun 30, 2025 | $1.20B |
Mar 31, 2025 | $1.39B |
Dec 31, 2024 | $1.30B |
Sep 30, 2024 | $2.00B |
Jun 30, 2024 | $2.12B |
Mar 31, 2024 | $2.32B |