Savvy Trades and Investments

[cliffvb]

MTH very nice beat and it pretty much mirrors what other home builders, including PHM, TPH, and DHI also reported recently. Nice earnings beats and increase in order backlog yoy but also cautioning that the sales pace had slowed down markedly since mid march. DHI is the nation's largest homebuilder. They reported a nice beat with earnings up 40% yoy and orders were also up 20% yoy.

I've seen a report that new home sales are also starting to see a pickup from lower levels in the current world of corona virus fears. Many people with existing homes for sale have pulled their homes off the market because they don't want strangers going through their homes. Vacant new homes are also easier to show.

Here in Washington state, the governor finally re-opened new home construction with safeguards in place. It had been shut down for a month.