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MI Homes has been one of the performance leaders in the Homebuilders Index (XHB), putting up an outstanding return of 112% this year. This performance is second to only sector leader TopBuild (BLD), which has put up an even more impressive 124% gain.
This comes on the back of a strong year for MI Homes, with a nice jump in gross-margin in the most recent quarter. Gross margins came in at 20.6%, up 150 basis points sequentially over Q2 2019. The company's backlog also remains strong, with 2,915 homes and a