National home builder Lennar reported nearly flat sales for the third quarter of 2011, with revenues of $820.2 million, down 1% from the same quarter of 2010. Net income in the three months ended Aug. 31 were $20.7 million, down 31% from the $30 million earned in the third quarter a year ago.

The Miami-based home builder delivered 2,865 new homes, a decrease of 3% from the third quarter of 2010. New orders were up 11%, to 2,914 homes. The cancellation rate was 20%.

Miami-based home builder Lennar reported a fourth-quarter net income of $32 million, down 9.8% from $35.5 million for the same period last year.

Revenues for the quarter ended Nov. 30 were $761.3 million, down 11.1% from $856.4 million for the same period in 2009.