NVR, Inc. has reported its financial results for the second quarter ended June 30, 2025. The company, one of the largest homebuilding and mortgage banking entities in the U.S., recorded a net income of $333.7 million, or $108.54 per diluted share, marking a decrease of 17% and 10%, respectively, compared to the same period in 2024. Consolidated revenues for the second quarter of 2025 were $2.60 billion, nearly unchanged from the $2.61 billion reported in the second quarter of 2024. For the first half of 2025, NVR's consolidated revenues saw a slight increase of 1%, reaching $5.00 billion compared to $4.95 billion in the first half of 2024. However, net income for this period was $633.3 million, a decline of 20% from the $795.2 million reported for the same period in the previous year. The homebuilding segment's revenues remained flat at $2.55 billion in the second quarter of 2025, but the gross profit margin decreased to 21.5% from 23.6% in the second quarter of 2024, due to higher lot costs, pricing pressures, and contract land deposit impairments of approximately $13.2 million. In the mortgage banking segment, closed loan production increased by 2% to $1.56 billion in the second quarter of 2025. However, income before tax from this segment decreased by 34% to $29.6 million, compared to $45.0 million in the second quarter of 2024, primarily due to reduced secondary marketing gains on loan sales. The company did not provide any outlook or guidance in its report.