November 24, 2024 6:15 am
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Time to book profits on these 5 homebuilder stocks

By Richard Henry Suttmeier | Forbes

Homebuilder stocks DR Horton, KB Home, Lennar, PulteGroup and Toll Brothers are not cheap after rising 141% to 237% from lows set between March 18 to March 23. DR Horton and Lennar set all-time intraday highs on Thursday, July 23.

Longer-term homebuilders are a buy when their P/E ratios are 8% and lower. Today they have P/E ratios between 9.62% and 12.80%.

Key Housing Statistics  

The National Association of Home Builders (NAHB) Housing Market Index (HMI) plunged by a record 42 points to 30 in April, down from 72 in March. This reading then rose to 37 in May then back to 72 in July.

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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.