January 11th, 2010 by Michael Oliver

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National homebuilder Lennar posted their first quarterly profit in over 2 years as the signs real estate markets nationwide are getting much better then a lot of even experts realize. Lennar is the nations 3rd largest builder, having operations across the country and also having major exposure in some of the worst hit areas by the real estate downturn. Lennar earned $35.6 million, or 19 cents a share, for the quarter ended Nov. 30, compared to a loss of $811 million, or $5.12 a share, in the same period a year earlier. It marked Lennar’s first quarterly profit in two years. For a homebuilder to have a profit is quite unexpected by most as the new home industry has been dealing with the worst real estate depression since the Great Depression.

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