NVR · 10-Q · 2026Q2 · Full report

End-Market Demand Trends

NVR INC · 2026-08-05 · Importance 54 · Surprise 32

Demand for new homes remained pressured in the second quarter of 2026 by affordability issues, elevated home inventory in certain markets, weak consumer sentiment and economic volatility. New orders increased 9% year over year in the quarter and 8% in the first six months, while the cancellation rate declined to 14.9% and 14.4%, respectively. Backlog increased 9% to 10,998 units and 5% to $4,992,229 at June 30, 2026, with substantially all non-cancelled backlog expected to settle within twelve months. Settlements declined 8% in the quarter and 14% in the first six months, reflecting lower backlog turnover and weaker opening backlog balances.

Key facts

• During the second quarter of 2026, demand for new homes continued to be negatively impacted by affordability issues, high home inventory levels in certain markets, weak consumer sentiment and economic volatility. source