Shares of Opendoor Technologies shares are surging again Tuesday. The move higher comes amidst a broader rally in the real estate sector, fueled by optimistic signals from the Federal Reserve.
Powell’s dovish Jackson Hole remarks signal that the Fed could cut rates as early as September, with markets now pricing an 80% chance of a 25 bps cut.
TopBuild Corp. (NYSE: BLD) to acquire Progressive Roofing for $810 million in cash, expanding into commercial roofing and non-cyclical construction market.
The Home Depot Inc. is acquiring GMS Inc. for $4.3B, expanding its reach in the pro contractor space and adding to its capabilities and service offerings.
At the current sales pace, the market reflected 8.1 months of supply in April, down from 9.1 months in March, but still higher than the 7.7-month supply level recorded a year earlier.
Capstone Holding Corp. expects to reach $100 million revenue and $10 million EBITDA by 2025 through organic growth and acquisitions, with a focus on favorable deal valuations and minimizing dilution. They have secured a flexible equity line of credit and are pursuing both tuck-ins and new platforms to quickly scale amid high housing demand. CAPS shares surged 82.53% premarket on Friday.
Homebuilding stocks show signs of a turnaround, with the XHB ETF breaking its downtrend and gaining momentum amid easing inflation and macro conditions.
The SPDR S&P Homebuilders ETF (XHB) has entered bear market territory, down nearly 24% from its 52-week high as mounting challenges weigh on the sector.
