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As the southern U.S. recovers from a brutal hurricane season, home improvement companies are seeing benefits, but homebuilders? Not so much, writes MKM Partners’ Megan McGrath. There’s the short-term focus on sales, including orders an closings), as well as more medium-term concerns, like labor shortages, commodity inflation, and pricing power to worry about.
This represents an increase in short interest as investors who seek to profit from falling equity prices added to their short positions on September 14. The current level displays a positive indicator.
Homebuilders are in the spotlight — in KB Home's case, for a neighborhood spat turned public — with a number of stocks building bases and more housing data on tap.