Manufactured Home Builders Stock Index
The Manufactured Home Builders Index (MHBI) closed -6.2% lower in October marking the first monthly decline since June. The index of publicly traded producers of HUD-code manufactured housing had been up as high as +4.7% on October 18th, but then declined starting Monday the 21st when bond yields started to rise as a series of solid economic data releases lowered expectations on the number of interest rate cuts to come in the next few quarters. The move in bond yields lowered the broader ITB residential construction index by -7.8% for the month and the S&P 500 finished down -0.9%, its first monthly decline since April.
With the October close the MHBI is now up +16.8% on the year moving ahead of the +15.6% gain of the ITB, but now trailing the S&P 500’s year-to-date gain of +20.8%.
Manufactured Home Builders Stock Index (MHBI)
The Manufactured Home Builders Stock Index (MHBI) is a capitalization-weighted index developed by TMHA that includes publicly traded companies whose primary line of business is the construction and sale of manufactured housing.
SPDR S&P 500 ETF Trust (SPY)
The SPDR S&P 500 ETF Trust (SPY) is included as a market benchmark to see how manufactured home builders are doing in comparison to the broader US equity market.
