Manufactured Home Builders Stock Index (MHBI) - Performance Analysis

Rob Ripperda
October 05, 2026
Market Data

The Manufactured Home Builders Index (MHBI) finished September down -1.8%, giving back a small part of August’s gain but holding up better than the broader ITB residential construction index, which finished down -7.3%. Manufactured home builders slightly trailed the S&P 500, which closed down -0.3%.

The MHBI slid through the first two weeks alongside the homebuilders, down more than 7% by September 10, then recovered most of the loss by the fourth week before easing down into the month end. Residential construction stocks kept falling through the second half of the month while manufactured home builders stabilized.

The MHBI is now up +0.5% on the year, the ITB is down -8.6%, and the S&P 500 is up +12.7%.

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.