Homebuilding Stocks: Is It Too Late to Buy?

Housing stocks have been on a tear – at least in relative terms – for months now, with the S&P index of homebuilders dramatically outpacing the broad S&P 500 benchmark. Is it time to double up, especially now that the Fed has launched a third round of bond purchases that could lower mortgage rates even further? Or would it be wiser to take some of those gains off the table?