Lennar ramps up construction, prices in 2Q

The Miami company had a 10 percent jump in new orders over the three-month period that is crucial in the housing industry, CEO Stuart Miller said in a company statement Tuesday.

The slow and steady recovery of the housing market is being sustained by low interest rates, modest wage growth, consumer confidence, low unemployment and tight housing inventory levels, Miller said.

New home construction in the U.S. has climbed 10.2 percent this year compared to the first five months of 2015, a sign that healthy demand exists because of ultra-low mortgage rates and a relatively healthy job market, with unemployment at 4.7 percent.