Flurry of Homebuilder IPO Activity Has Investors Nervous (XHB)
Get Alerts WLH Hot Sheet
Join SI Premium – FREE
Speculators might be keeping a close eye on homebuilding ETF SPDR S&P Homebuilders (NYSE: XHB) after regional homebuilders William Lyon Homes (NYSE: WLH) filed a $200 million IPO after the close Tuesday, and into the $602 million Taylor Morrison (NYSE: TMHC) IPO, which is expected this week.
Both regional builders focus on hard hit housing areas like Orange County, California and Phoenix, Arizona.
Contrarian's may look at the flurry of IPO activity among the regional homebuilders as a sign of a market top. Homebuilding stocks have been on fire for a year or more. Leaders have been KB Home (NYSE: KBH) which is up 165% in the last year, PulteGroup (NYSE: PHM) up 135%, Lennar (NYSE: LEN) up 51%, and Toll Brothers Inc. (NYSE: TOL) up 41%.
Both regional builders focus on hard hit housing areas like Orange County, California and Phoenix, Arizona.
Contrarian's may look at the flurry of IPO activity among the regional homebuilders as a sign of a market top. Homebuilding stocks have been on fire for a year or more. Leaders have been KB Home (NYSE: KBH) which is up 165% in the last year, PulteGroup (NYSE: PHM) up 135%, Lennar (NYSE: LEN) up 51%, and Toll Brothers Inc. (NYSE: TOL) up 41%.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Duolingo (DUOL) to Join S&P MidCap 400; Cable One (CABO) to Join S&P SmallCap 600
- Netflix's subscribers, TSMC, Tesla upside - what's moving markets
- Primerica (PRI) Mentioned Cautiously at Bear Cave
Create E-mail Alert Related Categories
ETFs, Insiders' Blog, Trader TalkRelated Entities
Standard & Poor'sSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!