Manufactured Home Builders Stock Index (MHBI) March 2026 - Performance Analysis

Rob Ripperda
April 03, 2026
Market Data

The Manufactured Home Builders Index (MHBI) finished March down -17.8% as US military operations in Iran drove broad market uncertainty. The S&P 500 moved down -4.9% for the month while the bond market signaled higher rates and diminished expectations for additional Fed rate cuts. The ITB residential construction index finished down -15.6%.

The MHBI is now down -14% on the year, the ITB is down -5.8%, and the S&P 500 is down -4.4%.

Percent change from start of period

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.

iShares U.S. Home Construction ETF (ITB)

The iShares U.S. Home Construction ETF (ITB) is included for comparison sake to show how the Manufactured Home Builders Stock Index is doing relative to a broad index of the overall residential construction sector. The ITB index includes some of the same manufactured home companies as the MHBI, but the weights within each are very different.

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.