Lennar (LEN) closed the most recent trading day at $86.40, moving +1.23% from the previous trading session.
After two years of surging home prices, suddenly the market is worried about a crash in the housing market. With mortgage rates rising fast, home prices already stretched, and fears of a recession sweeping the market, the pieces seem to be in place for a pullback in home prices. Despite the beginning of a decline in home prices, the U.S. still has a national housing shortage as homebuilders pulled back in home construction in the decade following the housing crisis, and as of 2019 the U.S. had a shortage of 3.8 million homes, according to Freddie Mac.
Lennar (LEN) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.