NVR · 10-Q · 2026Q3 · Full report

Geographic Market Commentary

NVR INC · 2026-11-04 · Importance 41 · Surprise 48

Demand and order trends varied across NVR’s Mid Atlantic, North East, Mid East and South East segments. In the third quarter, North East new orders fell 46%, with active communities down 22% and sales absorption down 31%; Mid Atlantic orders declined 4%, Mid East orders declined 4%, and South East orders declined 2%. For the first nine months, North East orders fell 12%, while Mid Atlantic, Mid East and South East orders rose 2%, 5% and 7%, respectively. South East’s nine-month order growth reflected higher absorption and better product positioning in certain markets, while Mid Atlantic’s orders benefited from more active communities despite weaker absorption.

Key facts

• North East Q3 2026 New Orders decreased 46%, while average New Order price increased 13%; average active communities fell 22% and sales absorption was 31% lower. source
• North East Q3 2026 segment profit decreased approximately $14,000, or 27%, and gross margin declined to 21.1% from 26.3%, negatively affected by higher lot costs. source
• Mid East Q3 2026 segment profit decreased approximately $16,400, or 21%; revenue decreased approximately $37,400, or 7%, and gross margin declined to 19.8% from 21.7%. source
• South East Q3 2026 segment profit decreased approximately $10,100, or 18%; revenue declined approximately $25,400, or 4%, and gross margin decreased to 17.1% from 18.0%. source
• Mid Atlantic Q3 2026 New Orders decreased 4% and average New Order price decreased 6%; sales absorption was 18% lower, attributed to weaker demand. source
• Mid Atlantic Q3 2026 settlements decreased 11% and average settlement price decreased 3%; lower backlog turnover was partly due to operational challenges in the segment's markets. source