Home builders and suppliers have been hammered by rising mortgage rates. But there’s long-term value in the stocks, and interest rates won’t stay up forever.
Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced today that the Company will release earnings for the fourth quarter ended November 30, 2022 after the market closes on December 14, 2022. Additionally, the Company will hold a conference call on December 15, 2022 at 11:00 a.m. Eastern Time.
Shares of companies in the home construction sector took a broad beating Wednesday, in the wake of more weak data on pending home sales. The National Association of Realtors said Wednesday that pending home sales in October fell 4.6% from September, the fifth-straight monthly decline, with year-over-year pending transactions dropping 37.0%. "October was a difficult month for home buyers as they faced 20-year-high mortgage rates," said NAR Chief Economist Lawrence Yun. The iShares U.S. Home Const