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Op-ed: From our analysis, we found the following most relevant:
  • Our adjusted housing gross profit margin, which excludes inventory-related charges as well as the amortization of previously capitalized interest, was 24.2% for the 2021 second quarter compared to 21.9% for the same 2020 period
  • The current quarter metric reflected the favorable pricing environment over the past several quarters, when most of the orders relating to the second quarter deliveries were booked, increased operating leverage due to higher housing revenues and lower amortization of previously capitalized interest.

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