D.R. Horton raises annual revenue forecast due to tight housing supply

DR Horton (DHI) shares are popping higher in Thursday's pre-market session. The homebuilder boasted revenue of $9.11 billion and adjusted gains of $3.52 per share. DR Horton raises its full-year outlook despite supply slowdowns. Yahoo Finance's Seana Smith and Brad Smith highlight how homebuilder stocks are managing under elevated interest rates and mortgage rates.

D.R. Horton now expects full-year revenue in the range of $36.7 billion. Full-year deliveries now forecast to be 89,000 to 91,000 homes. Net income for the largest U.S. homebuilder in the second quarter ended March rose to $1.2 billion.