Published on 7 May 2024 on Insider Monkey via Yahoo Finance
In this article, we discuss the 14 best housing stocks to buy according to hedge funds. To skip the detailed analysis of the housing market, go directly to the 5 Best Housing Stocks To Buy According to Hedge Funds.
For the first time since July 2022, the median home prices in all the US states have either risen or stayed the same in the four weeks ending April 28, as reported by Redfin Corporation (NASDAQ:RDFN) on May 2. Home prices are rising despite mortgage rates going above 7% as people locked in at lower mortgage rates are reluctant to sell their homes, creating supply shortages. Moreover, on April 19, Redfin Corporation (NASDAQ:RDFN) reported that luxury homes have reached record prices with a median price of $1.225 million. In Q1, luxury home sales increased by 2% despite the prices rising 9% and total supply increasing by 13% year-over-year. Compared to that, the prices of nonluxury homes increased by 4.6% year-over-year and its sales were down 4%.
Luxury Home Builder Expanding Further