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And according to the NAHB/Wells Fargo Housing Market Index (HMI), builder sentiment in the market for newly-built single-family homes moved one point higher to 84 in December. According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development data, privately‐owned housing starts in November increased 11.8% year-over-year.
Homebuilding activities are expected to continue soaring as people spend more time at home amid new COVID-19-related restrictions and with them an extension of the work-from-home trend. Given this backdrop, Wall Street analysts expect homebuilding stocks PulteGroup, Inc. (PHM), Meritage Homes Corporation (MTH), and M.D.C. Holdings, Inc. (MDC) to rally more than 25% in price in the near term.
