Why Shares of These Homebuilders Jumped More Than 10% in January
Shares of homebuilders D.R. Horton (NYSE: DHI), PulteGroup (NYSE: PHM), and Meritage Homes (NYSE: MTH) rose by double-digit percentages in January. The residential-housing companies rode a trend of improving housing-sector data throughout the month, and wrapped up by reporting positive earnings numbers. When all was said and done, shares of Horton were up 12.2%, with Pulte up 15.1% and Meritage soaring 16.1% for the month.
All three, though, showed above-average performance for the sector. The S&P 1500 Homebuilding Sub-Industry Index was up 11.6% for the month, and some homebuilders, including Beazer Homes USA, actually lost ground in January.
Top homebuilders handily outperformed the stock market in January. Image source: Getty Images.
Source Fool.com
