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New homes for sale by Lennar home builders.
Lennar reported a 45 percent rise in second-quarter profit on Tuesday, helped by strong housing demand amid an expanding economy and job growth.
The U.S. home builder's shares rose nearly 8 percent in premarket trading.
Orders, an indication of future revenue for homebuilders, jumped 62.3 percent to 14,440 homes in the quarter.
The Miami-based builder said it sold 12,095 homes, led by its eastern region, which includes Florida and New Jersey. The company sold 7,710 homes in the quarter last year. The average sales price rose 10.4 percent to $413,000.
Concerns about rising interest rates and construction costs have been offset by low unemployment and rising wages, combined with short supply, Chief Executive Stuart Miller said.
A shortage in supply of homes has been steadily lifting home prices.
"Demand remained strong as we continued to see pricing power support margins while affordability remained consistent," Miller said in a statement.
Net income attributable to Lennar's shareholders rose to $310.3 million, or 94 cents per share, in the quarter ended May 31, from $213.7 million, or 89 cents per share, a year earlier.
The company had a charge of $236.8 million related to purchase accounting, and $23.9 million in acquisition and integration costs for its CalAtlantic merger last year.
Excluding items, the company earned $1.58 per share.
Revenue jumped 67.4 percent to $5.46 billion.
