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NVR NVR , INC . ANNOUNCES SECOND QUARTER RESULTS July 23 , 2026 at 9:00 AM EDT RESTON , VA , July 23 , 2026 / PRNewswire / -- NVR , Inc. ( NYSE : NVR ) , one of the nation's largest homebuilding and mortgage banking companies , announced net income for its second quarter ended June 30 , 2026 of $ 236.5 million , or $ 83.96 per diluted share . For the second quarter ended June 30 , 2026 , net income and diluted earnings per share decreased 29 % and 23 % , respectively , when compared to 2025 second quarter net income of $ 333.7 million , or $ 108.54 per diluted share . Consolidated revenues for the second quarter of 2026 totaled $ 2.33 billion , compared to $ 2.60 billion in the second quarter of 2025 . For the six months ended June 30 , 2026 , consolidated revenues were $ 4.21 billion , a 16 % decrease from $ 5.00 billion reported for the same period of 2025. Net income for the six months ended June 30 , 2026 was $ 434.8 million , a decrease of 31 % when compared to net income for the six months ended June 30 , 2025 of $ 633.3 million . Diluted earnings per share for the six months ended June 30 , 2026 was $ 151.38 , a decrease of 26 % from $ 203.20 per diluted share for the same period of 2025 . Homebuilding New orders in the second quarter of 2026 increased by 9 % to 5,885 units , when compared to 5,379 units in the second quarter of 2025. The average sales price of new orders in the second quarter of 2026 was $ 437,100 , a decrease of 5 % when compared to the second quarter of 2025. The cancellation rate in the second quarter of 2026 was 15 % compared to 17 % in the second quarter of 2025. Settlements in the second quarter of 2026 decreased by 8 % to 5,058 units , compared to 5,475 units in the second quarter of 2025. The average settlement price in the second quarter of 2026 was $ 450,700 , a decrease of 3 % when compared to the second quarter of 2025. Our backlog of homes sold but not settled as of June 30 , 2026 increased on a unit basis by 9 % to 10,998 units and increased on a dollar basis by 5 % to $ 4.99 billion when compared to the respective backlog unit and dollar balances as of June 30 , 2025 . Homebuilding revenues of $ 2.28 billion in the second quarter of 2026 decreased by 11 % compared to homebuilding revenues of $ 2.55 billion in the second quarter of 2025. Gross profit margin in the second quarter of 2026 decreased to 19.2 % , from 21.5 % in the second quarter of 2025. Gross profit margin was negatively impacted by higher lot costs , pricing pressure due to continued affordability challenges and weak consumer sentiment , and by contract land deposit impairments totaling approximately $ 21.7 million . Income before tax from the homebuilding segment totaled $ 293.2 million in the second quarter of 2026 , a decrease of 30 % when compared to the second quarter of 2025 . Mortgage Banking Mortgage closed loan production in the second quarter of 2026 totaled $ 1.35 billion , a decrease of 13 % when compared to the second quarter of 2025 . Income before tax from the mortgage banking segment totaled $ 25.4 million in the second quarter of 2026 , a decrease of 14 % when compared to $ 29.6 million in the second quarter of 2025 . About NVR NVR , Inc. operates in two business segments : homebuilding and mortgage banking . The homebuilding segment sells and builds homes under the Ryan Homes , NVHomes and Heartland Homes trade names , and operates in thirty - seven metropolitan areas in sixteen states and Washington , D.C. For more information about NVR , Inc. and its brands , see www.nvrinc.com , www.ryanhomes.com , www.nvhomes.com and www.heartlandluxuryhomes.com . Some of the statements in this release made by the Company constitute " forward - looking statements " within the meaning of the Private Securities Litigation Reform Act of 1995 , Section 27A of the Securities Act of 1933 , as amended , and Section 21E of the Securities Exchange Act of 1934 , as amended . Certain , but not necessarily all , of such forward - looking statements can be identified by the use of forward - looking terminology , such as " believes , " " expects , " " may , " " will , " " should , " " could , " or " anticipates " or the negative thereof or other comparable terminology . All statements other than of historical facts are forward - looking statements . Forward - looking statements contained in this document may include those regarding market trends , NVR's financial position and financial results , business strategy , the outcome of pending litigation , investigations or similar contingencies , and projected plans and objectives of management for future operations . Such forward - looking statements involve known and unknown risks , uncertainties and other factors that may cause the actual results or performance of NVR to be materially different from future results , performance or achievements expressed or implied by the forward - looking statements . Such risk factors include , but are not limited to the following : general economic and business conditions ( on both a national and regional level ) ; interest rate changes ; access to suitable financing by NVR and NVR's customers ; increased regulation in the mortgage banking industry ; the ability of our mortgage banking subsidiary to sell loans it originates into the secondary market ; competition ; the availability and cost of land and other raw materials used by NVR in its homebuilding operations ; shortages of labor ; the economic impact of a major epidemic or pandemic ; weather related slow - downs ; building moratoriums ; governmental regulation ; fluctuation and volatility of stock and other financial markets ; mortgage financing availability ; and other factors over which NVR has little or no control . NVR undertakes no obligation to update such forward - looking statements except as required by law . NVR , Inc. Consolidated Statements of Income ( in thousands , except per share data ) ( unaudited ) Three Months Ended June 30 , Six Months Ended June 30 , 2026 2025 2026 2025