Miami Homes, Miami Beach real estate

Lennar Posts 3^rd Quarter Loss but still Optimistic

Orders for new Miami homes were down 8% from a year earlier, but executives are confident that the Florida housing market is recovering.

Lennar, a homebuilder in Miami, reported a greater loss in its fiscal third quarter as it continued to write down the value of land and unsold Miami homes, but executives say, assuming the economy remains stable ,the company will be profitable next year.

Orders for new Miami homes were down 8% from a year earlier, but they increased each month during the quarter ending August 31^st. Miami based company had more sales in at the end of last month than any time since August 2008.

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