April 23 (Reuters) - U.S. homebuilder NVR Inc ( NVR )

beat Wall Street estimates for first-quarter profit as tight

housing supply drove demand for new homes.

With the popular 30-year fixed mortgage at around 7%, a

majority of U.S. homeowners have deferred reselling their homes

as they remain locked in mortgages below 5%.

This has created a shortage of existing homes in the market,

with new buyers having little choice but to turn to newly

constructed homes.

NVR posted first-quarter consolidated revenue of $2.33

billion beating analysts' estimates of $2.22 billion, according

to LSEG data.

New orders for the company, which operates in 15 U.S.

states, rose 3% to 6,049 homes. The average selling price per

home rose 3% to $454,300.

Net income attributable to the company was $116.41 per

share, above estimates of $103.90.

(Reporting by Ananta Agarwal in Bengaluru)