DFH - This Homebuilder Stock Is Up 22% on Friday -- Here's Why
2023-08-04 12:24:34 ET
Dream Finders Homes (NYSE: DFH) isn't exactly a household name, but it has been one of the best-performing homebuilding stocks in the market recently. And Friday is no exception. As of 11:30 a.m. EDT, Dream Finders was higher by more than 22% and was sitting at a new 52-week high.
Dream Finders reported earnings on Thursday that handily beat the market's expectations on both the top and bottom lines. Simply put, it seems investors are pleasantly surprised at how well the company has navigated a difficult real estate market.
To name just a few of the most important stats, Dream Finders' revenue grew by 19% year over year in the second quarter, fueled by a combination of higher average selling prices and 12% more home closings than the second quarter of 2022.
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This Homebuilder Stock Is Up 22% on Friday -- Here's Why