The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). Let’s take a look at how home builders stocks fared in Q1, starting with NVR (NYSE: NVR).

Traditionally, homebuilders have built competitive advantages with economies of scale that lead to advantaged purchasing and brand recognition among consumers. Aesthetic trends have always been important in the space, but more recently, energy efficiency and conservation are driving innovation. However, these companies are still at the whim of the macro, specifically interest rates that heavily impact new and existing home sales. In fact, homebuilders are one of the most cyclical subsectors within industrials.

The 12 home builders stocks we track reported a slower Q1. As a group, revenues missed analysts’ consensus estimates by 0.8%.

While some home builders stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.2% since the latest earnings results.

NVR (NYSE: NVR)

Known for its unique land acquisition strategy, NVR (NYSE: NVR) is a respected homebuilder and mortgage company in the United States.

NVR reported revenues of $1.88 billion, down 21.7% year on year. This print fell short of analysts’ expectations by 7.8%. Overall, it was a disappointing quarter for the company with a significant miss of analysts’ revenue and adjusted operating income estimates.

NVR delivered the weakest performance against analyst estimates of the whole group. The market seems disappointed with the results as the stock is down 9.1% since reporting and currently trades at $6,302.

Read our full report on NVR here, it’s free.

Best Q1: Taylor Morrison Home (NYSE: TMHC)

Named “America’s Most Trusted Home Builder” in 2019, Taylor Morrison Home (NYSE: TMHC) builds single family homes and communities across the United States.

Taylor Morrison Home reported revenues of $1.39 billion, down 26.8% year on year, outperforming analysts’ expectations by 4.1%. The business had an incredible quarter with a beat of analysts’ EPS and adjusted operating income estimates.

The market seems happy with the results as the stock is up 15.1% since reporting. It currently trades at $71.31.

Is now the time to buy Taylor Morrison Home? Access our full analysis of the earnings results here, it’s free.

Lennar (NYSE: LEN)

One of the largest homebuilders in America, Lennar (NYSE: LEN) is known for constructing affordable, move-up, and retirement homes across a range of markets and communities.

Lennar reported revenues of $6.62 billion, down 13.3% year on year, falling short of analysts’ expectations by 4.5%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and adjusted operating income estimates.

As expected, the stock is down 2.9% since the results and currently trades at $89.83.

Read our full analysis of Lennar’s results here.

Toll Brothers (NYSE: TOL)

Started by two brothers who started by building and selling just one home in Pennsylvania, today Toll Brothers (NYSE: TOL) is a luxury homebuilder across the United States.

Toll Brothers reported revenues of $2.53 billion, down 7.6% year on year. This result beat analysts’ expectations by 4.6%. Overall, it was an exceptional quarter as it also put up a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ revenue estimates.

Toll Brothers achieved the biggest analyst estimate beat among its peers. The stock is up 12.5% since reporting and currently trades at $139.65.

Read our full, actionable report on Toll Brothers here, it’s free.

PulteGroup (NYSE: PHM)

Having delivered over 850,000 homes since its founding in 1950, PulteGroup (NYSE: PHM) is one of America's largest homebuilders, constructing single-family homes, townhouses, and condominiums for first-time, move-up, and active adult buyers across 46 markets in 25 states.

PulteGroup reported revenues of $3.41 billion, down 12.4% year on year. This print was in line with analysts’ expectations. Aside from that, it was a slower quarter as it logged a significant miss of analysts’ EBITDA and EPS estimates.

The stock is down 7.1% since reporting and currently trades at $118.53.

Read our full, actionable report on PulteGroup here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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