Announcing the 2024 Tech Trendsetters winners.

Read Now
Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
735,718-296
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.94%0.02

Homebuilder stocks rise on HW 30

Despite recent pressure, homebuilder stocks show hopeful future

The stock market finished the month of March on the up and up after a several big market moving days, including a drastic drop after this month’s Fed Chair Janet Yellen’s speech regarding the Federal Open Market Committee meeting.

But despite the news, the HW 30 finished the month up 0.7% and is up 0.6% year-to-date.

However, the positive news may not seep into homebuilder stocks.

According to Jay McCanless, Sterne Agee analyst, “Homebuilder stock prices are under pressure because of seasonal trading patterns and because February's national housing metrics (starts, resales, new home sales and pending sales) have not exceeded consensus estimates.”

In addition, “This year's brutal and unending winter has added a wrinkle of uncertainty for builders in weather-affected areas,” he added.

The good news: Sterne Agee’s positive group thesis is unchanged because the positive macroeconomic backdrop of low competitive supply, steady but unremarkable, demand, and growing jobs should eventually increase housing demand.

Lennar Corp. (LEN), Toll Brothers (TOL) and D.R. Horton (DHI) all witnessed slight increases Monday, increasing 0.20%, 0.39% and 0.37%, respectively.

Tuesday morning the Census Bureau puts out the February construction spending report. 

Most Popular Articles

Latest Articles

How realtors can leverage micro-market shifts to drive urgency and capitalize on opportunities in a challenging market 

With Q4 in full swing, many realtors are seeing buyers and sellers paralyzed by high interest rates and stagnant inventories. Sean Shallis, a “Recovering Realtor” and top-producing loan officer, is offering strategies to help realtors break through this stagnation by leveraging micro-market shifts to create urgency and inspire action. 

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please