{"id":840037,"date":"2025-04-22T09:12:22","date_gmt":"2025-04-22T13:12:22","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nvr-inc-announces-first-quarter-results-3\/"},"modified":"2025-04-22T09:12:22","modified_gmt":"2025-04-22T13:12:22","slug":"nvr-inc-announces-first-quarter-results-3","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nvr-inc-announces-first-quarter-results-3\/","title":{"rendered":"NVR, INC. ANNOUNCES FIRST QUARTER RESULTS"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n
\n RESTON, Va.<\/span>
\n <\/span>, April 22, 2025<\/span><\/span> \/PRNewswire\/ — NVR, Inc. <\/b>(NYSE: NVR), one of the nation’s largest homebuilding and mortgage banking companies, announced net income for its first quarter ended March 31, 2025<\/span> of $299.6 million<\/span>, or $94.83<\/span> per diluted share. Net income and diluted earnings per share for the first quarter ended March 31, 2025<\/span> decreased 24% and 19%, respectively, when compared to 2024 first quarter net income of $394.3 million<\/span>, or $116.41<\/span> per diluted share. Consolidated revenues for the first quarter of 2025 totaled $2.40 billion<\/span>, which increased 3% from $2.33 billion<\/span> in the first quarter of 2024.\u00a0<\/p>\n

\n
\n
\n Homebuilding<\/u>
\n <\/i>
\n <\/b>\n <\/p>\n

New orders in the first quarter of 2025 decreased by 12% to 5,345 units, when compared to 6,049 units in the first quarter of 2024. The average sales price of new orders in the first quarter of 2025 was $448,500<\/span>, a decrease of 1% when compared with the first quarter of 2024. The cancellation rate in the first quarter of 2025 was 16% compared to 13% in the first quarter of 2024. Settlements in the first quarter of 2025 increased by 1% to 5,133 units, compared to 5,089 units in the first quarter of 2024. The average settlement price in the first quarter of 2025 was $457,900<\/span>, an increase of 2% from the first quarter of 2024. Our backlog of homes sold but not settled as of March 31, 2025<\/span> decreased on a unit basis by 9% to 10,165 units and decreased on a dollar basis by 7% to $4.84 billion<\/span> when compared to the respective backlog unit and dollar balances as of March 31, 2024<\/span>.<\/p>\n

Homebuilding revenues of $2.35 billion<\/span> in the first quarter of 2025 increased by 3% compared to homebuilding revenues of $2.29 billion<\/span> in the first quarter of 2024. Gross profit margin in the first quarter of 2025 decreased to 21.9%, compared to 24.5% in the first quarter of 2024. Gross profit margin was negatively impacted by higher lot costs and pricing pressure due to continued affordability challenges. Income before tax from the\u00a0homebuilding segment totaled $369.5 million<\/span> in the first quarter of 2025, a decrease of 16% when compared to the first quarter of 2024.<\/p>\n

\n
\n
\n Mortgage Banking<\/u>
\n <\/i>
\n <\/b>\n <\/p>\n

Mortgage closed loan production in the first quarter of 2025 totaled $1.43 billion<\/span>, an increase of 4% when compared to the first quarter of 2024. Income before tax from the mortgage banking segment totaled $32.5 million<\/span> in the first quarter of 2025, an increase of 12% when compared to $29.0 million<\/span> in the first quarter of 2024.\u00a0<\/p>\n

\n
\n
\n Effective Tax Rate<\/u>
\n <\/i>
\n <\/b>\n <\/p>\n

Our effective tax rate for the three months ended March 31, 2025<\/span> was 25.5% compared to 16.2% for the three months ended March 31, 2024<\/span>. The increase in the effective tax rate in the first quarter of 2025 is primarily attributable to a lower income tax benefit recognized for excess tax benefits from stock option exercises, which totaled $2.7 million<\/span> and $43.8 million<\/span> for the three months ended March 31, 2025<\/span> and March 31, 2024<\/span>, respectively.<\/p>\n

\n
\n
\n About NVR<\/u>
\n <\/i>
\n <\/b>\n <\/p>\n

NVR, Inc. operates in two business segments: homebuilding and mortgage banking. The\u00a0homebuilding segment sells and builds homes under the Ryan Homes, NVHomes and Heartland Homes trade names, and operates in thirty-six metropolitan areas in sixteen states and Washington, D.C.<\/span> For more information about NVR, Inc. and its brands, see www.nvrinc.com<\/a>, www.ryanhomes.com<\/a>, www.nvhomes.com<\/a> and www.heartlandluxuryhomes.com<\/a>.<\/p>\n

Some of the statements in this release made by the Company constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain, but not necessarily all, of such forward-looking statements can be identified by the use of forward-looking terminology, such as “believes,” “expects,” “may,” “will,” “should” or “anticipates” or the negative thereof or other comparable terminology. All statements other than of historical facts are forward-looking statements. Forward-looking statements contained in this document may include those regarding market trends,\u00a0NVR’s financial position and financial results, business strategy, the outcome of pending litigation, investigations or similar contingencies, projected plans and objectives of management for future operations. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance of\u00a0NVR to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements. Such risk factors include, but are not limited to the following: general economic and business conditions (on both a national and regional level); interest rate changes; access to suitable financing by\u00a0NVR and NVR’s customers; increased regulation in the mortgage banking industry; the ability of our mortgage banking subsidiary to sell loans it originates into the secondary market; competition; the availability and cost of land and other raw materials used by NVR in its homebuilding operations; shortages of labor; the economic impact of a major epidemic or pandemic; weather related slow-downs; building moratoriums; governmental regulation; fluctuation and volatility of stock and other financial markets; mortgage financing availability; and other factors over which NVR has little or no control. NVR undertakes no obligation to update such forward-looking statements except as required by law.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n NVR, Inc.<\/b>
\n <\/span>\n <\/p>\n

\n Consolidated Statements of Income<\/span>\n <\/p>\n

\n (in thousands, except per share data)<\/span>\n <\/p>\n

\n (unaudited)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Three Months Ended March 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Homebuilding:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Revenues<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,350,445<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,286,177<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Other income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 26,712<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 40,866<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Cost of sales<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1,835,375)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1,726,213)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Selling, general and administrative<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (165,117)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (152,503)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Operating income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 376,665<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 448,327<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Interest expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (7,181)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (6,649)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Homebuilding income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 369,484<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 441,678<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Mortgage Banking:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Mortgage banking fees<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 52,587<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 47,286<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Interest income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,806<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,092<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Other income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,093<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,171<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n General and administrative<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (24,693)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (23,358)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Interest expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (273)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (177)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Mortgage banking income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 32,520<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 29,014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Income before taxes<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 402,004<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 470,692<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Income tax expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (102,428)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (76,423)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Net income<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 299,576<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 394,269<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Basic earnings per share<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 100.41<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 123.76<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Diluted earnings per share<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 94.83<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 116.41<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Basic weighted average shares outstanding<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,984<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,186<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Diluted weighted average shares outstanding<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,159<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,387<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n NVR, Inc.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Consolidated Balance Sheets<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (in thousands, except share and per share data)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (unaudited)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n March 31, 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n December 31, 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n ASSETS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Homebuilding:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cash and cash equivalents<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,176,902<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,561,339<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Restricted cash<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 64,264<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 42,172<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Receivables<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 36,543<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 32,622<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Inventory:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Lots and housing units, covered under sales agreements with customers<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,774,287<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,727,243<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Unsold lots and housing units<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 242,217<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 237,177<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Land under development<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 70,050<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 65,394<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Building materials and other<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 23,818<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 28,893<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 2,110,372<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,058,707<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Contract land deposits, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 757,197<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 726,675<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Property, plant and equipment, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 98,038<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 95,619<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating lease right-of-use assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 84,791<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 78,340<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Reorganization value in excess of amounts allocable to identifiable assets, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 41,580<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 41,580<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 264,138<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 251,178<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 5,633,825<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,888,232<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Mortgage Banking:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cash and cash equivalents<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 34,204<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 49,636<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Restricted cash<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,540<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11,520<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Mortgage loans held for sale, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 391,914<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 355,209<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Property and equipment, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,286<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,373<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating lease right-of-use assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 22,686<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 23,482<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Reorganization value in excess of amounts allocable to identifiable assets, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,347<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,347<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 85,731<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 38,189<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 561,708<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 492,756<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total assets<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,195,533<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,380,988<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n NVR, Inc.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Consolidated Balance Sheets (Continued)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (in thousands, except share and per share data)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (unaudited)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n March 31, 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n December 31, 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n LIABILITIES AND SHAREHOLDERS’ EQUITY<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Homebuilding:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Accounts payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 364,929<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 332,772<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Accrued expenses and other liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 455,369<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 441,300<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Customer deposits<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 315,746<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 322,926<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating lease liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 90,489<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 83,939<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Senior notes<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 910,633<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 911,118<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 2,137,166<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,092,055<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Mortgage Banking:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Accounts payable and other liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 79,009<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 53,433<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating lease liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 24,694<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 25,428<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 103,703<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 78,861<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total liabilities<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,240,869<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,170,916<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Commitments and contingencies<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Shareholders’ equity:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Common stock, $0.01 par value; 60,000,000 shares authorized; 20,555,330 shares
issued as of both March 31, 2025 and December 31, 2024<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 206<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 206<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Additional paid-in capital<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,057,037<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,031,637<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Deferred compensation trust \u2013 106,697 shares of NVR, Inc. common stock as of
both March 31, 2025 and December 31, 2024<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (16,710)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (16,710)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Deferred compensation liability<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 16,710<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 16,710<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Retained earnings<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 15,346,529<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 15,046,953<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Less treasury stock at cost \u2013 17,610,715 and 17,543,686 shares as of March 31,
2025 and December 31, 2024, respectively<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (14,449,108)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (13,868,724)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total shareholders’ equity<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,954,664<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,210,072<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total liabilities and shareholders’ equity<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,195,533<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6,380,988<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n NVR, Inc.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating Activity<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (dollars in thousands)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (unaudited)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Three Months Ended March 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n Units<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Average
Price<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Units<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Average
Price<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n New orders, net of cancellations:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Mid Atlantic (1)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,866<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 514.5<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,282<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 515.4<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n North East (2)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 377<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 695.0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 527<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 612.6<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Mid East (3)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,098<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 419.9<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,263<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 409.9<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n South East (4)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,004<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 356.3<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,977<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 369.9<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Total<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,345<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 448.5<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,049<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 454.3<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Three Months Ended March 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n Units<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Average
Price<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Units<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Average
Price<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Settlements:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Mid Atlantic (1)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,050<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 527.9<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,966<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 517.5<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n North East (2)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 471<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 613.2<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 463<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 552.2<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Mid East (3)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,013<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 407.1<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,049<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 397.5<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n South East (4)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,599<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 354.6<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,611<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 370.0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Total<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,133<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 457.9<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,089<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 449.2<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n As of March 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n Units<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Average
Price<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Units<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Average
Price<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Backlog:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Mid Atlantic (1)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,884<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 535.7<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,410<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 521.0<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n North East (2)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 961<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 694.4<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,092<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 628.2<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Mid East (3)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,130<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 422.6<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,190<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 417.7<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n South East (4)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,190<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 372.9<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,497<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 377.5<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Total<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10,165<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 475.9<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11,189<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 466.4<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n NVR, Inc.<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating Activity (Continued)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (dollars in thousands)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (unaudited)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Three Months Ended March 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Average active communities:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Mid Atlantic (1)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 120<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 157<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n North East (2)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 24<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 34<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Mid East (3)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 93<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 100<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n South East (4)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 164<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 136<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Total<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 401<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 427<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Three Months Ended March 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 2025<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Homebuilding data:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n New order cancellation rate<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 16\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 13\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Lots controlled at end of period<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 167,600<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 143,200<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Mortgage banking data:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Loan closings<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,432,922<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,378,009<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Capture rate<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 86\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 86\u00a0%<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n
\n Common stock information:<\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Shares outstanding at end of period<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,944,615<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,167,625<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Number of shares repurchased<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 77,120<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 66,858<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n

\n Aggregate cost of shares repurchased<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 583,394<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 496,936<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n
\n\n\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n (1)<\/span>\n <\/p>\n<\/td>\n

\n

\n Maryland, Virginia, West Virginia, Delaware and Washington, D.C.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (2)<\/span>\n <\/p>\n<\/td>\n

\n

\n New Jersey and Eastern Pennsylvania<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (3)<\/span>\n <\/p>\n<\/td>\n

\n

\n New York, Ohio, Western Pennsylvania, Indiana and Illinois<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n (4)<\/span>\n <\/p>\n<\/td>\n

\n

\n North Carolina, South Carolina, Tennessee, Florida, Georgia and Kentucky<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n \"Cision\" View original content:https:\/\/www.prnewswire.com\/news-releases\/nvr-inc-announces-first-quarter-results-302433748.html<\/a><\/p>\n

SOURCE NVR, INC.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire RESTON, Va. , April 22, 2025 \/PRNewswire\/ — NVR, Inc. (NYSE: NVR), one of the nation’s largest homebuilding and mortgage banking companies, announced net income for its first quarter ended March 31, 2025 of $299.6 million, or $94.83 per diluted share. Net income and diluted earnings per share for the first quarter ended March 31, 2025 decreased 24% and 19%, respectively, when compared to 2024 first quarter net income of $394.3 million, or $116.41 per diluted share. Consolidated revenues for the first quarter of 2025 totaled $2.40 billion, which increased 3% from $2.33 billion in the first quarter of 2024.\u00a0 Homebuilding New orders in the first quarter of 2025 decreased by 12% to 5,345 units, when compared to … <\/p>\n

Continue reading “NVR, INC. ANNOUNCES FIRST QUARTER RESULTS”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-840037","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nNVR, INC. ANNOUNCES FIRST QUARTER RESULTS - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nvr-inc-announces-first-quarter-results-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NVR, INC. ANNOUNCES FIRST QUARTER RESULTS - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire RESTON, Va. , April 22, 2025 \/PRNewswire\/ — NVR, Inc. (NYSE: NVR), one of the nation’s largest homebuilding and mortgage banking companies, announced net income for its first quarter ended March 31, 2025 of $299.6 million, or $94.83 per diluted share. Net income and diluted earnings per share for the first quarter ended March 31, 2025 decreased 24% and 19%, respectively, when compared to 2024 first quarter net income of $394.3 million, or $116.41 per diluted share. Consolidated revenues for the first quarter of 2025 totaled $2.40 billion, which increased 3% from $2.33 billion in the first quarter of 2024.\u00a0 Homebuilding New orders in the first quarter of 2025 decreased by 12% to 5,345 units, when compared to … Continue reading "NVR, INC. ANNOUNCES FIRST QUARTER RESULTS"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/nvr-inc-announces-first-quarter-results-3\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-22T13:12:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH69047&sd=2025-04-22\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nvr-inc-announces-first-quarter-results-3\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nvr-inc-announces-first-quarter-results-3\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"NVR, INC. 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