Home closing revenue decreased 17.5% to $1.1 billion compared to Q1 2025. Net earnings fell to $55.3 million from $122.8 million in the prior year period. Home closing volume dropped 13.1% to 2,967 homes. Average sales price (ASP) on closings declined 5.0% to $373,400. Home closing gross margin contracted 450 basis points to 17.5%. Active communities reached a record 345, up from 290 in Q1 2025.