Manufactured Home Builders Stock Index (MHBI) May 2025 - Performance Analysis

Rob Ripperda
June 07, 2025
Market Data

The Manufactured Home Builders Index (MHBI) moved lower in May with an -18.3% decrease from the previous month after the companies comprising the index announced earnings below Wall Street targets. The broader ITB residential construction index was also lower on the month but by a more modest -2.8% while the S&P 500 rallied for its best monthly performance on the year with a +6.3% gain.

On the year the MHBI moved into negative territory now down -16.1% while the ITB is down -12.9% and the S&P 500 turned positive at 0.9% over last years close.

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.