Home-Builder Stocks Soar Past S&P 500

Home-builder shares are fast approaching their highs for the year, moving past steep 2018 losses thanks to a combination of falling mortgage rates and firming housing data.

The SPDR S&P Homebuilders ETF is up 29% after rising every day of the week so far, putting it a hair’s breadth away from surpassing its 2019 high and well above the S&P 500’s 17% gain for the year. LGI Homes, which focuses on targeting first-time buyers, has soared 77% this year, while fellow home-builder Lennar has jumped 32% and KB Home has risen…


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!