The housing market is stalling, and homebuilder stocks are feeling the pain.
The S&P Supercomposite Homebuilding Index is down 21% year-to-date, on track for the biggest annual drop since 2008, when it fell 32%. That's even with tax cuts, unemployment near the lowest since 1969 and a real-estate developer in the White House. What gives?
Investors are increasingly worried about what JPMorgan Chase & Co. calls a "fairly tepid" housing recovery. New-home inventory is rising but getting increasingly expensive amid labor shortages, rising interest rates and higher commodities costs — linked partly to tariffs, such as those on imported steel.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
