NVR - Why These Top Homebuilding Stocks Fell More Than 25% in March
Shares of residential real estate developers NVR (NYSE: NVR), D.R. Horton (NYSE: DHI), and Meritage Homes (NYSE: MTH) tumbled more than 25% in March, according to data provided by S&P Global Market Intelligence. NVR, the parent company of Ryan Homes, saw its shares drop by 29.9%, while shares of D.R. Horton, the largest homebuilder in the U.S. by number of units sold, fell 36.2%. Meritage's stock was the worst performer of the three, falling 42.5% for the month.
These performances, while much worse than the S&P 500's drop of just 12.5%, were par for the course for the homebuilding sector. The S&P Homebuilders Select Industry Index dropped 38.4% for the month. All three have rebounded along with the broader stock market so far in April, but are still down between 25% and 35% for the year.
Image source: Getty Images.