U.S. Housing Market Heats Up Again

We had some unexpectedly good news on the housing front today with the release of the latest sales figures. For May, sales rose to the third highest level since the 20088 housing crisis and the median price of those homes hit an all-time record.

Analysts had expected a decline for the month, but they missed the mark as home sales increase just more than one percent. At a seasonally-adjusted rate, the US saw the sale of 5.62 million homes in May.

Supply has tightened, and that lower supply in the face of strong demand has caused prices to rise. In addition, mortgage-rates remain relatively low despite the recent Fed tightening.

Below, we present the latest data on Construction stocks. We applied some basic liquidity criteria--share price greater than $3 and average daily volume in excess of 100k shares. 

Top-Five Construction Stocks--Short-Term Forecast Returns

Ticker

Name

Mkt Price

Valuation (%)

Last 12-M Return (%)

MHO

M/I HOMES INC

27.79

10.82%

52.11%

CCS

CENTURY COMMUNT

25

16.44%

40.13%

URI

UTD RENTALS INC

103.91

1.40%

50.92%

TMHC

TAYLOR MORRISON

24.4

24.89%

55.41%

MDC

MDC HLDGS

35.18

15.42%

54.23%

Top-Five Construction Stocks--Momentum

Ticker

Name

Mkt Price

Valuation (%)

Last 12-M Return (%)

WLDN

WILLDAN GROUP

30.6

82.93%

188.41%

STRL

STERLING CONSTR

10.69

31.81%

108.38%

MTZ

MASTEC INC

44.45

8.19%

88.51%

BZH

BEAZER HOMES

13.09

-19.19%

70.22%

THO

THOR INDS INC

105.43

1.25%

63.58%

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Disclosure: None.

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