LOS ANGELES – The U.S. economy and housing market had set homebuilders up for a strong 2020. That was before the efforts to stem the spread of the coronavirus pandemic knocked the economy into a skid, dimmed consumer confidence and left a record number of Americans unemployed.
The housing market stalled in March as many would-be buyers held off on purchases. Sales of newly built and previously occupied U.S.
homes fell sharply. Home construction slowed. The April data out so far shows the housing slowdown continued last month. And yet, you wouldn’t know it by looking at homebuilder stocks.
While shares in most of the builders are still in the red for the year, the majority of them have notched big gains so far this month that eclipse those
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