Manufactured Home Builders Stock Index (MHBI) November 2025 - Performance Analysis

Rob Ripperda
December 03, 2025
Market Data

The Manufactured Home Builders Index (MHBI) moved up +16.6% in November riding earnings beats that were posted by the two largest companies in the index. The broader ITB residential construction index finished up +2.1% for the month and the S&P 500 was up +0.2%.

The November boost pushed the MHBI back into positive territory on the year and now sits at +9.6% over 2024’s close, while the ITB is up +2.1%, and the S&P 500 extended its gains to +17.6%.

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.