Here's Why D.R. Horton Stock Climbed 12% in April
Shares of D.R. Horton (NYSE: DHI) increased 12.4% last month, according to S&P Global Market Intelligence. The housing stock moved higher after its quarterly earnings report. The company topped analyst estimates for both revenue and earnings, and its forward-looking commentary drove optimism among investors.
Uncertainty has been swirling around the housing market for the past few quarters. Mortgage rates hit the highest level in 20 years. A string of bank failures accelerated a trend of tightening lending standards, restricting access to loans for prospective homebuyers.
In addition, a wave of layoffs and the prospect of recession are harming consumer sentiment and discouraging major purchases. These factors have all contributed to weaker demand for housing, which has many investors worried about companies in that industry.
Source Fool.com
