D.R. Horton says sales trends 'solid' in July Sees Q4 backlog conversion rate 81%-84%. Sees Q4 home sales gross margin in high 19%-20% range. Sees Q4 homebuilding SG&A 8.7%-8.9% of homebuilding revenues. Says sales trends "solid" in July. Sees Q4 Financial Services operating margin 35%-40%. Sees Q4 tax rate 35%-36%. Sees Q4 average selling price $285,000-$290,000. Comments made on the Q3 earnings conference call. D.R. Horton is down 0.52% to $26.60 in morning trading.