The Manufactured Home Builders (MHBI) stock index moved down -7.1% in October from the preceding month and trailed the broader residential construction market (ITB) which was down -6.3%. US large cap stocks (SPY) were also down -2.2% month-over-month, but outperformed both residential construction sectors.
The October close marks three straight months of declines for the indexes.
For calendar year 2023 the MHBI is up +10.3% through October, while the ITB is up +21.9%, and the S&P 500 is up +10.6%.
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.
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.