HHH - Forestar Group: Homebuilders Are Primed For A Strong 2024 Buy While Still Cheap
2024-02-04 23:28:48 ET
Summary
- Forestar Group, a real estate developer, is expected to benefit from the upcoming housing recovery in 2024.
- Housing shortages will continue due to a lack of inventory, leading to an increase in single-family home construction.
- Mortgage rates are forecast to decrease, leading to a pickup in demand for new homes.
Depending on who you believe, the housing market is likely to improve in 2024 compared to the past two years, and homebuilders of single-family homes especially, stand to gain the most from the upcoming housing recovery. Forestar Group ( FOR ) is a real estate developer that works with homebuilders to develop communities and is one of the largest single-family community developers in the US. Since going public in 2017, Forestar has developed communities nationwide (developing 1 out of every 50 single-family homesites in the US) and experienced a 1,000% increase in lots sold from 2018 to 2023, according to the company website ....
Forestar Group: Homebuilders Are Primed For A Strong 2024, Buy While Still Cheap