Homebuilder looking up due to lower mortgage rates

Real Estate

After a year of decline, home-building companies are getting a boost.

Shares of home-building companies are on track for their best quarter in seven years, the Wall Street Journal reported. The SPDR S&P Homebuilders exchange-traded fund — which includes building-products and home-furnishing companies — has soared 17 percent this quarter and is on pace for its best three-month period since 2012.

Shares of Beazer Homes USA, BZH, Lennar, KB Home and D.R. Horton have all bounced back — each climbing about 20 percent. Meanwhile, NVR and Toll Brothers have risen 15 percent and 9 percent, respectively.

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