And tight housing supply is expected to push home prices higher this year.
This has helped push homebuilder stocks higher today. Here is a look at what some of them are doing:
- Toll Brothers is up 3 per cent.
- DR Horton America’s largest homebuilder is up 3.5 per cent.
- Beazer Homes is up 2.3 per cent.
- PulteGroup is up 4.5 per cent.
- Lennar Corp is up nearly 3 per cent.
- Standard Pacific Corp which builds single-family attached and detached homes is up nearly 7 per cent.
- Homebuilder ETFs ITB and XHB are also up today.