FORT WORTH-D R Horton Inc., the nation's largest homebuilder, has posted a profit for the third fiscal quarter of 2010. The Q3 earnings for the company stood at $50.5 million compared to a loss of $143.8 million for the same period in 2009.
These earnings were mainly boosted by the federal tax credit, which increased home closings. There was an increase of 60% in home closings to 6,805 homes as homebuyers hurried to close deals before the expiry of tax credit. For the full story, go to Reuters.
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