Manufactured Home Builders Stock Index (MHBI) - Performance Analysis

Rob Ripperda
November 02, 2026
Market Data

The Manufactured Home Builders Index (MHBI) finished October up +4.3%, with the move into the green arriving entirely on the last trading day of the month. The broader ITB residential construction index finished up +6.6%, while the S&P 500 closed down -0.9%.

Manufactured home builders fell harder than the rest of residential construction through the first three weeks, down more than 10% by October 19. Earnings season for the past quarter began at the October 29 close and good news on backlogs, pricing, and workforce-housing orders pushed the MHBI up 8.2% in a single session, turning a losing month into a winning one.

The MHBI is now up +4.8% on the year, the ITB is down -2.5%, and the S&P 500 is up +11.7%.

Percent change from start of period

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.