Homebuilder ETFs Jump on Lennar Earnings Beat

“Buyers (remain) motivated by limited inventory in many areas and the potential for higher rates,” Credit Suisse analyst Susan Maklari wrote in a client note.

Related: Leveraging up the Homebuilders ETF Trade

The average sale price of single-family homes rose 7.7% to $393,000 in the first quarter, which helped support companies like Lennar as home construction firms benefited from the shortage.

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