Stocks came off their highs but were still up slightly at mid-morning.
News & Analysis: Lennar
Orders are up 20% compared to a year ago.
LEN earnings call for the period ending May 31, 2020.
Homebuilder sentiment has started to recover.
Despite a collapse in sales, optimism has returned to the housing market.
Positive results out of D.R. Horton lifted all its fellow homebuilders.
America's largest bank is making it harder to get a mortgage. Other banks are expected to follow suit, further hindering the prospects for builders as the economy grinds to a halt.
Investors should know that this current market downturn is not 2008-09 for the homebuilders all over again.
LEN earnings call for the period ending February 29, 2020.
The stock market took another hit Wednesday morning.