Homebuilders: Today’s Special Buying Opportunity
Outstanding homebuilder industry sales and pricing news for June was just released, yet homebuilder stocks so far have not reacted. The news is exceptionally good because expectations have been so negative (i.e., the “surprise” factor is high).
With this proof that new homebuyers are undeterred by the higher mortgage fixed-rates, we would expect the pressure to lessen and homebuilder stocks to rise. However, thus far today – nothing. Moreover, two homebuilders will report their June-ended quarters tomorrow…
This article is published on SeekingAlpha.com