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Lennar Profit Jumps, New Home Orders Rise

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September 24, 2013 AT 6:45 AM
Lennar Corporation reported a better-than-expected quarterly profit as it sold more homes at higher prices, indicating the U.S. housing recovery is firmly on track. The No. 3 U.S. homebuilder said orders for new homes rose 14 percent in the quarter and that the long-term outlook for its business remains "extremely bright".