NVR · 10-Q · 2026Q3 · Full report

Home Closings and Orders

NVR INC · 2026-11-04 · Importance 42 · Surprise 32 · From source text

Third-quarter 2026 new orders declined 7% to 4,391 units, and the average new-order price fell 5% to $442,100; the sales absorption rate was 8% lower year over year. The quarterly cancellation rate increased to 21.0% from 19.4%, while settlements declined 7% to 5,268 units. For the first nine months, new orders increased 4% to 16,014 units, but settlements fell 12% to 14,341 units and the average settlement price declined 2% to $450,700. The nine-month cancellation rate was approximately 16%, compared with 17% in 2025; backlog at September 30 increased 10% to 10,121 units, with $4.585 billion in homes sold but not yet settled.

Key facts

• As of September 30, 2026, NVR backlog increased 10% to 10,121 units and 4% to $4,585,259, compared with 9,165 units and $4,394,695 a year earlier. source
• NVR's homebuilding revenues declined 13% in the first nine months of 2026, reflecting 12% fewer units settled and a 2% decline in average settlement price. source
• NVR's Q3 2026 homebuilding revenues decreased 8%, reflecting a 7% decline in units settled and a 2% decline in average settlement price. source
• NVR expects to settle substantially all of its September 30, 2026 backlog within the next twelve months, excluding cancelled units. source
• NVR's Q3 2026 New Orders decreased 7% year over year, while the cancellation rate rose to 21.0% from 19.4%. source
• NVR's Q3 2026 average New Order sales price was $442.1, down 5% year over year. source
• NVR's Q3 2026 New Orders and average New Order price decreased 7% and 5%, respectively; New Orders were affected by an 8% lower sales absorption rate attributed to weaker demand. source
• NVR's first-nine-month 2026 New Orders increased 4%, while average New Order price decreased 4%; New Orders benefited from a 4% increase in average active communities. source

Impact estimates