BRK-B · 10-Q · 2026Q3 · Full report

Homebuilding Demand and Mix

BERKSHIRE HATHAWAY INC · 2026-11-09 · Importance 77 · Surprise 92 · Contradicted

Berkshire acquired Taylor Morrison Home Corporation on July 24, 2026, and included it in consolidated results from that date. Homebuilding Businesses revenue increased 41.4% in Q3 and 15.0% to $11.0 billion in the first nine months of 2026; TMHC contributed approximately $1.1 billion of home sales from acquisition through September 30. Site-built units sold rose 87.2% in Q3 and 30.2% year to date, primarily due to TMHC. Homebuilding Businesses pre-tax earnings were $575 million in Q3 and $1.4 billion year to date; nine-month earnings declined 1.3%, as TMHC’s contribution was partly offset by lower Clayton Homes homebuilding margins.

Key facts

• Berkshire Hathaway Homebuilding Businesses’ site-built units sold increased 87.2% in the third quarter and 30.2% in the first nine months of 2026, primarily due to TMHC, which produced approximately $1.1 billion of home sales from acquisition through September 30, 2026. source
• Berkshire Hathaway’s manufactured housing-related loan balances, net of discounts and credit-loss allowances, were approximately $30.7 billion at September 30, 2026, up 6.4% since September 30, 2025; the loans are largely funded by borrowings from Berkshire finance affiliates. source
• Berkshire Hathaway’s factory-built home sales declined 1.4% in the first nine months of 2026, reflecting a 2.7% decline in units sold and changes in sales mix. source
• BHE real estate brokerage earnings decreased $12 million in the third quarter and $34 million in the first nine months of 2026, partly due to a second-quarter litigation settlement; the business remained affected by limited homes for sale, elevated interest rates and high home prices. source
• Retailing group revenues were relatively unchanged in Q3 and the first nine months of 2026 compared with 2025; BHA accounted for about 71% of first-nine-month 2026 retailing group revenues. source
• BHA revenue increased 0.8% in Q3 2026 and declined 0.6% in the first nine months of 2026 versus 2025; new and pre-owned vehicle retail sales rose 1.9% in Q3 and fell 0.7% year to date. source
• Retailing group pre-tax earnings declined 1.0% in Q3 2026 and increased 1.1% in the first nine months of 2026 versus 2025; BHA pre-tax earnings declined 6.2% in Q3 and increased 0.8% year to date. source
• Homebuilding Businesses’ financial-services pre-tax earnings were relatively unchanged in the first nine months of 2026, as higher interest income was substantially offset by higher interest expense, largely from increased affiliate borrowings, and higher operating expenses. source

Impact estimates