This Stock is Soaring

Today, we’re seeing more signs of strength from U.S. homebuilders…

Steve is bullish on housing today. Mortgage rates are near multiyear lows, making this a great time to buy homes – yet housing inventory remains low. That means homebuilders can command higher prices.

[hana-code-insert name=’adsense-article’ /]Plus, they need to build more houses to keep up with demand.

One company is thriving in today’s housing market…

D.R. Horton (DHI) is a $19 billion homebuilder.

It focuses on the entry-level and move-up home markets, and it does business in 29 states across the U.S.

That means its success is a great indicator of how the U.S. housing market is doing…

In the third quarter, D.R. Horton reported sales of $4.9 billion, up 11% from the same quarter last year. And the company’s orders climbed 6% to 15,588 homes.

As you can see in today’s chart, DHI shares are grinding higher. The stock is up more than 50% in 2019 alone, and it recently hit a fresh all-time high. As long as the housing market remains solid, homebuilders like D.R. Horton should continue to succeed…

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Source: Daily Wealth’s Market Notes