StaffWire services
U.S. home building continues to reach new limits. In February, builders broke ground on 917,000 homes — the highest level since pre-recession, finds the U.S. Commerce Department.
And investors have taken note. The shares of U.S. homebuilders are soaring, reports ft.com. While the S&P 500 has increased 16% in the last year, home builders on the U.S. benchmark jumped 85%.
One of the country’s largest builders is Taylor Morrison. The firm gained $628 million on Tuesday, in what became the largest IPO by a homebuilder in two decades, adds ft.com.
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