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NVR, Inc. Announces Financial Results for Q3 2026

Reston, VA - NVR, Inc. (NYSE: NVR), a leading homebuilding and mortgage banking firm, has released its financial results for the third quarter ending September 30, 2026. The results reveal a notable decline in both net income and revenue compared to the previous year, highlighting the challenges faced in the current housing market.

Financial Overview

For the third quarter of 2026, NVR reported a net income of $248.6 million, equating to $89.45 per diluted share. This marks a substantial decrease of 27% from the $342.7 million net income reported in the same quarter of 2025. Likewise, consolidated revenues for the company amounted to $2.40 billion, down from $2.61 billion in the prior year, representing a decline of 8% year-over-year.

Over the nine months ending September 30, 2026, NVR’s consolidated revenues totaled $6.61 billion, reflecting a 13% decrease from $7.61 billion recorded during the same period in 2025. Net income for the nine-month period was reported at $683.4 million, a 30% drop from $976.0 million in the previous year.

Homebuilding Performance

The homebuilding segment saw new orders decrease by 7% to 4,391 units compared to 4,735 units during the third quarter of 2025. The average sales price of new orders also dropped 5%, settling at $442,100. The cancellation rate for homes increased to 21%, up from 19% in the same quarter last year.

Settlements in the third quarter diminished by 7%, totaling 5,268 units versus 5,639 units the year prior, with an average settlement price of $445,900 reflecting a 2% decrease.

Despite these declines, NVR reported an increase in its backlog of homes sold but not yet settled, which grew by 10% in units to 10,121 and by 4% in dollar terms to $4.59 billion compared to September 30, 2025.

Mortgage Banking Segment

In the mortgage banking domain, closed loan production for the third quarter totaled $1.38 billion, a 10% decrease from $1.54 billion year-over-year. However, income before tax from mortgage banking saw a growth of 7%, reaching $35.0 million compared to $32.7 million in the third quarter of 2025.

Market Challenges

The decrease in profit margins, which fell to 18.3% from 21.0% in the previous year, has been attributed to rising lot costs, pricing pressures reflecting ongoing affordability issues, and a decline in consumer sentiment. The segment also faced impairments totaling approximately $24.8 million related to contract land deposits.

NVR, Inc. continues to operate in a challenging environment influenced by various factors including economic fluctuations, regulatory changes within mortgage banking, and competition for land and resources. The company remains committed to navigating these challenges while delivering value to its stakeholders.

About NVR, Inc.

NVR, Inc. operates primarily in two segments: homebuilding and mortgage banking. The homebuilding section builds and sells homes under the Ryan Homes, NVHomes, and Heartland Homes brands across thirty-seven metropolitan areas in sixteen states and Washington, D.C. For more about NVR, visit nvrinc.com.

Through these ongoing challenges and financial results, NVR demonstrates resilience and a focus on strategic recovery in a fluctuating market landscape.