Tuesday’s earnings slate is chock-full of important names for housing - almost all of which are trading at all time high valuations. This post outlines why we are about to retrace lower across the home construction landscape (the retrace already began with a vengeance across housing services and resale names: Zillow, Compass, Rocket, PennyMac, etc.).
Take a look at who we hear from and where they currently stand in historical context - all of these names are flashing red in the valuation column:
Toll Brothers (TOL) - The highest end of production homebuilding (ASPs ~$1M)
