Builders Slump as U.S. Housing Market Shifts to the Slow Lane
The housing market is stalling, and homebuilder stocks are feeling the pain. The S&P Supercomposite Homebuilding Index is down 21 percent year-to-date, on track for the biggest annual drop since 2008, when it fell 32 percent. Investors are increasingly worried about what JPMorgan Chase & Co. calls a “fairly tepid” housing recovery.