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.

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