AMREP Corporation has released its annual report for the fiscal year ending April 30, 2025. The company, primarily engaged in land development and homebuilding, reported a reduction in revenues from the sale of developed residential land during the fiscal year ending April 30, 2026, compared to 2024 and 2025. This anticipated decline is attributed to reduced active land development projects and delays in proceeding with new projects due to market headwinds, uncertainty, and infrastructure delays. The company highlighted several factors contributing to the uncertain economic conditions affecting demand for land and homes, including changes in mortgage interest rates, inflation, tariffs, and labor shortages. Despite these challenges, AMREP Corporation expects some revenue from its backlog of homes under contract and in production, with expected sale revenues materializing when such homes are closed. The company is also cautious about future economic conditions impacting its operations and has adjusted its outlook accordingly.