Short interest for Lennar gives investors a sense of the degree to which investors are betting on the decline of Lennar's stock. Short interest data is updated every two weeks.

Lennar Stock (NYSE:LEN), Short Interest Report

Lennar

Lennar is one of the largest public homebuilders in the United States. The company's homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name. Lennar's financial-services segment provides mortgage financing and related services to its homebuyers. Miami-based Lennar is also involved in multifamily and single-family for rent construction and has invested in numerous housing-related technology startups.

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Lennar Corp

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LENZ Therapeutics Inc

Deep-pocketed investors have adopted a bearish approach towards Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in LEN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Lennar. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 40% bearish. Among these notable options, 4 are puts, totaling $167,066, and 6 are calls, amounting to $313,190.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $135.0 and $190.0 for Lennar, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Lennar's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Lennar's whale activity within a strike price range from $135.0 to $190.0 in the last 30 days. 
<h3>Lennar Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714585553_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>LEN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$6.0</td>
<td>$5.8</td>
<td>$5.8</td>
<td>$190.00</td>
<td>$92.8K</td>
<td style="text-align: right;">377</td>
<td style="text-align: right;">42</td>
</tr>
<tr>
<td>LEN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$12.6</td>
<td>$12.3</td>
<td>$12.5</td>
<td>$160.00</td>
<td>$62.5K</td>
<td style="text-align: right;">116</td>
<td style="text-align: right;">80</td>
</tr>
<tr>
<td>LEN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$8.5</td>
<td>$8.2</td>
<td>$8.2</td>
<td>$180.00</td>
<td>$62.3K</td>
<td style="text-align: right;">326</td>
<td style="text-align: right;">200</td>
</tr>
<tr>
<td>LEN</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$13.4</td>
<td>$12.9</td>
<td>$13.12</td>
<td>$160.00</td>
<td>$49.8K</td>
<td style="text-align: right;">490</td>
<td style="text-align: right;">38</td>
</tr>
<tr>
<td>LEN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$13.4</td>
<td>$13.1</td>
<td>$13.22</td>
<td>$160.00</td>
<td>$48.9K</td>
<td style="text-align: right;">490</td>
<td style="text-align: right;">75</td>
</tr>
</tbody>
</table>

<h3>About Lennar</h3>
Lennar is one of the largest public homebuilders in the United States. The company's homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name. Lennar's financial-services segment provides mortgage financing and related services to its homebuyers. Miami-based Lennar is also involved in multifamily and single-family for rent construction and has invested in numerous housing-related technology startups.
Following our analysis of the options activities associated with Lennar, we pivot to a closer look at the company's own performance.
<h3>Where Is Lennar Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 547,525, with LEN's price down by -0.02%, positioned at $151.59.</li>
<li>RSI indicators show the stock to be may be approaching oversold.</li>
<li>Earnings announcement expected in 42 days.</li>
</ul>
<h3>Professional Analyst Ratings for Lennar</h3>
In the last month, 2 experts released ratings on this stock with an average target price of $171.0.
<ul>
<li>Reflecting concerns, an analyst from Wedbush lowers its rating to Underperform with a new price target of $144.</li>
<li>An analyst from Citigroup has decided to maintain their Buy rating on Lennar, which currently sits at a price target of $198. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Lennar options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Behind the Scenes of Lennar's Latest Options Trends

Invitation Homes will manage the 4,400 homes in the portfolio that are within its core markets and invest in the joint venture
&nbsp;
Invitation Homes Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/invh#NYSE">INVH</a>), the nation&#39;s premier single-family home leasing and management company, announced today that it has entered into a joint venture with Quarterra Group Inc., a wholly-owned subsidiary of Lennar Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/len#NYSE">LEN</a>), Centerbridge Partners, L.P., and other high quality institutional investors. As part of their agreement, Invitation Homes has acquired a minority equity interest in a portfolio of single-family homes for lease that are part of the Upward America joint venture. Upward America has selected Invitation Homes to provide management services to the 4,400 homes located primarily within Florida, Texas, and the Carolinas.
&nbsp;
&quot;This partnership is emblematic of Lennar&#39;s broader focus on building a healthier housing market across America and meeting the needs of families and individuals across the country,&quot; said Stuart Miller, Executive Chairman and Co-Chief Executive Officer of Lennar. &quot;The shared build-to-rent vision between Lennar and Invitation Homes creates opportunities that make the single-family lifestyle in a quality-built home more attainable.&quot;
&nbsp;
&quot;We&#39;re pleased to join these esteemed partners and be chosen to manage this newly-built portfolio of high-quality single-family homes for lease,&quot; stated Dallas Tanner, Chief Executive Officer of Invitation Homes. &quot;Including these homes, the total number we own and/or manage approaches 110,000 homes. Through these new relationships and additional efficiencies of scale, we believe we can achieve meaningful growth for our stockholders and a significant expansion of our premier service and experience for the residents of Upward America.&quot;
&nbsp;
&quot;This exciting partnership with Lennar and Invitation Homes, the premier operator of single-family rental homes, brings together two best-in-class industry leaders whose scale and capabilities are complementary to the joint venture,&quot; said Ally Heyburn, Managing Director at Centerbridge. &quot;Invitation Homes&#39; investment in the joint venture validates our thesis around the attractiveness of high-quality, new homes concentrated in some of the fastest growing markets in the country.&quot;

Contracts

INVH

Invitation Homes Announces Joint Venture With Quarterra; Invitation Homes Acquired Minority Equity Interest In Portfolio Of Single-Family Homes For Lease That Are Part Of Upward America Joint Venture

With the median single-family home in California selling for nearly $860,000 in 2023 — more than double the national median — prospective first-time homebuyers are having a tough time breaking into the state's expensive real estate market.
Mortgage rates topping 7%, combined with persistent inflation pushing off expected Federal Reserve rate cuts, make affordability even more challenging.&nbsp;
California allocated $250 million to relaunch its Dream for All program, which seeks to make housing more equitable for first-time homebuyers.
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Dream for All is run by the California Housing Finance Agency, with the agency using a lottery system to give between 1,700 and 2,000 prospective first-time buyers up to $150,000 to purchase homes.
The catch is that the money is a loan that must be paid back along with a share of the home's price appreciation when it's sold if there is any.
"When they repay this, this is going back into the program, and it&#8217;s going to allow someone else to take advantage," California real estate agent Sarah Moore said.
In addition to homebuyers being potential beneficiaries of the program, it could also provide a runway for homebuilders who need to keep adding supply to fill the nation's demand for affordable housing units.
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Homebuilders such as Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) and D.R. Horton Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) have seen their shares soar around 52% and 54%, respectively, over the past year as the nation deals with a housing shortage.
While the Dream for All program provides loans, it comes at a time when California continues to run a massive budget deficit.
The nonpartisan Legislative Analyst's Office in February updated its estimate of California's deficit to as high as $73 billion.
Whether the government's intervention in an unaffordable housing market for most prospective first-time homebuyers in California proves effective in the long term remains to be seen, but for the winners of the lottery, it might end up being their only choice to afford to own property in the high-cost state.
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California's $250 Million 'Dream For All' Program Shells Out $150K In First-Time Homebuyer Funds Despite State's $73 Billion Deficit

Whales with a lot of money to spend have taken a noticeably bearish stance on Lennar.
Looking at options history for Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) we detected 16 trades.
If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 13 are puts, for a total amount of $639,598 and 3, calls, for a total amount of $914,350.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $155.0 to $175.0 for Lennar during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Lennar's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Lennar's significant trades, within a strike price range of $155.0 to $175.0, over the past month.
<h3>Lennar Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713988959_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>LEN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$21.3</td>
<td>$20.6</td>
<td>$21.1</td>
<td>$175.00</td>
<td>$844.0K</td>
<td style="text-align: right;">724</td>
<td style="text-align: right;">400</td>
</tr>
<tr>
<td>LEN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$3.5</td>
<td>$3.3</td>
<td>$3.5</td>
<td>$157.50</td>
<td>$73.1K</td>
<td style="text-align: right;">495</td>
<td style="text-align: right;">270</td>
</tr>
<tr>
<td>LEN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$3.8</td>
<td>$3.6</td>
<td>$3.72</td>
<td>$157.50</td>
<td>$60.2K</td>
<td style="text-align: right;">495</td>
<td style="text-align: right;">348</td>
</tr>
<tr>
<td>LEN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$12.8</td>
<td>$12.3</td>
<td>$12.46</td>
<td>$165.00</td>
<td>$51.1K</td>
<td style="text-align: right;">210</td>
<td style="text-align: right;">37</td>
</tr>
<tr>
<td>LEN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$13.5</td>
<td>$13.2</td>
<td>$13.28</td>
<td>$165.00</td>
<td>$50.4K</td>
<td style="text-align: right;">210</td>
<td style="text-align: right;">124</td>
</tr>
</tbody>
</table>

<h3>About Lennar</h3>
Lennar is one of the largest public homebuilders in the United States. The company's homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name. Lennar's financial-services segment provides mortgage financing and related services to its homebuyers. Miami-based Lennar is also involved in multifamily and single-family for rent construction and has invested in numerous housing-related technology startups.
Having examined the options trading patterns of Lennar, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Lennar's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 1,005,635, the LEN's price is down by -1.18%, now at $153.87. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 49 days.</li>
</ul>
<h3>Professional Analyst Ratings for Lennar</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $171.0.
<ul>
<li>Reflecting concerns, an analyst from Wedbush lowers its rating to Underperform with a new price target of $144.</li>
<li>An analyst from Citigroup persists with their Buy rating on Lennar, maintaining a target price of $198. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Lennar options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

WIIM

Shares of homebuilder stocks are trading higher following strong earnings from PulteGroup and better-than-expected new home sales data.

Investors with a lot of money to spend have taken a bullish stance on Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with LEN, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 8 uncommon options trades for Lennar.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $197,630, and 3 are calls, for a total amount of $145,740.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $152.5 and $170.0 for Lennar, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of Lennar stands at 721.2, with a total volume reaching 1,166.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Lennar, situated within the strike price corridor from $152.5 to $170.0, throughout the last 30 days.
<h3>Lennar Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713470633_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>LEN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/03/24</td>
<td>$4.5</td>
<td>$4.3</td>
<td>$4.4</td>
<td>$152.50</td>
<td>$82.2K</td>
<td>0</td>
<td style="text-align: right;">53</td>
</tr>
<tr>
<td>LEN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$2.65</td>
<td>$2.6</td>
<td>$2.6</td>
<td>$157.50</td>
<td>$47.8K</td>
<td>1.0K</td>
<td style="text-align: right;">44</td>
</tr>
<tr>
<td>LEN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$2.75</td>
<td>$2.7</td>
<td>$2.7</td>
<td>$157.50</td>
<td>$41.5K</td>
<td>1.0K</td>
<td style="text-align: right;">233</td>
</tr>
<tr>
<td>LEN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$20.9</td>
<td>$20.7</td>
<td>$20.7</td>
<td>$170.00</td>
<td>$41.4K</td>
<td>58</td>
<td style="text-align: right;">40</td>
</tr>
<tr>
<td>LEN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$2.75</td>
<td>$2.75</td>
<td>$2.75</td>
<td>$157.50</td>
<td>$37.9K</td>
<td>1.0K</td>
<td style="text-align: right;">394</td>
</tr>
</tbody>
</table>

<h3>About Lennar</h3>
Lennar is one of the largest public homebuilders in the United States. The company's homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name. Lennar's financial-services segment provides mortgage financing and related services to its homebuyers. Miami-based Lennar is also involved in multifamily and single-family for rent construction and has invested in numerous housing-related technology startups.
In light of the recent options history for Lennar, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Present Market Standing of Lennar</h3>
<ul>
<li>With a trading volume of 2,176,290, the price of LEN is up by 0.68%, reaching $152.92.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 55 days from now.</li>
</ul>
<h3>Expert Opinions on Lennar</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $175.0.
<ul>
<li>An analyst from Keefe, Bruyette &amp; Woods has decided to maintain their Outperform rating on Lennar, which currently sits at a price target of $183. </li>
<li>Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Lennar with a target price of $198. </li>
<li>An analyst from Wedbush downgraded its action to Underperform with a price target of $144. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Lennar, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Lennar's Options Frenzy: What You Need to Know

Shares of homebuilders are trading higher in sympathy with D.R. Horton, which gained after reporting a Q2 earnings beat and issuing guidance above estimates.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Consumer Discretionary sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$155.00</td>
<td>$56.1K</td>
<td>30.5K</td>
<td>123.2K</td>
</tr>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$185.00</td>
<td>$36.0K</td>
<td>9.7K</td>
<td>6.1K</td>
</tr>
<tr>
<td>SBUX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$90.00</td>
<td>$43.7K</td>
<td>10.5K</td>
<td>3.3K</td>
</tr>
<tr>
<td>CZR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$34.00</td>
<td>$27.6K</td>
<td>1.9K</td>
<td>2.7K</td>
</tr>
<tr>
<td>LEN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$149.00</td>
<td>$33.2K</td>
<td>93</td>
<td>1.3K</td>
</tr>
<tr>
<td>GPS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$21.00</td>
<td>$44.2K</td>
<td>1.3K</td>
<td>368</td>
</tr>
<tr>
<td>NKE</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$95.00</td>
<td>$30.9K</td>
<td>3.7K</td>
<td>309</td>
</tr>
<tr>
<td>CPNG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$25.00</td>
<td>$52.0K</td>
<td>5.2K</td>
<td>279</td>
</tr>
<tr>
<td>LI</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$40.00</td>
<td>$28.7K</td>
<td>5.4K</td>
<td>114</td>
</tr>
<tr>
<td>TJX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$85.00</td>
<td>$56.8K</td>
<td>2.6K</td>
<td>55</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we notice a put option sweep that happens to be bullish, expiring in 3 day(s) on April 19, 2024. This event was a transfer of 215 contract(s) at a $155.00 strike. This particular put needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $56.1K, with a price of $263.0 per contract. There were 30585 open contracts at this strike prior to today, and today 123274 contract(s) were bought and sold. 
• Regarding AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we observe a call option sweep with bullish sentiment. It expires in 10 day(s) on April 26, 2024. Parties traded 100 contract(s) at a $185.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $36.0K, with a price of $360.0 per contract. There were 9774 open contracts at this strike prior to today, and today 6110 contract(s) were bought and sold. 
• Regarding SBUX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), we observe a call option trade with bullish sentiment. It expires in 31 day(s) on May 17, 2024. Parties traded 259 contract(s) at a $90.00 strike. The total cost received by the writing party (or parties) was $43.7K, with a price of $169.0 per contract. There were 10517 open contracts at this strike prior to today, and today 3378 contract(s) were bought and sold. 
• Regarding CZR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>), we observe a put option sweep with bearish sentiment. It expires in 31 day(s) on May 17, 2024. Parties traded 644 contract(s) at a $34.00 strike. This particular put needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $27.6K, with a price of $43.0 per contract. There were 1939 open contracts at this strike prior to today, and today 2785 contract(s) were bought and sold. 
• For LEN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>), we notice a put option sweep that happens to be bearish, expiring in 3 day(s) on April 19, 2024. This event was a transfer of 196 contract(s) at a $149.00 strike. This particular put needed to be split into 28 different trades to become filled. The total cost received by the writing party (or parties) was $33.2K, with a price of $170.0 per contract. There were 93 open contracts at this strike prior to today, and today 1366 contract(s) were bought and sold. 
• Regarding GPS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPS#NYSE">GPS</a>), we observe a put option sweep with bullish sentiment. It expires in 66 day(s) on June 21, 2024. Parties traded 202 contract(s) at a $21.00 strike. This particular put needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $44.2K, with a price of $219.0 per contract. There were 1361 open contracts at this strike prior to today, and today 368 contract(s) were bought and sold. 
• Regarding NKE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), we observe a put option trade with bearish sentiment. It expires in 276 day(s) on January 17, 2025. Parties traded 35 contract(s) at a $95.00 strike. The total cost received by the writing party (or parties) was $30.9K, with a price of $885.0 per contract. There were 3725 open contracts at this strike prior to today, and today 309 contract(s) were bought and sold. 
• Regarding CPNG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>), we observe a call option sweep with bearish sentiment. It expires in 276 day(s) on January 17, 2025. Parties traded 200 contract(s) at a $25.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $52.0K, with a price of $260.0 per contract. There were 5221 open contracts at this strike prior to today, and today 279 contract(s) were bought and sold. 
• For LI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), we notice a put option sweep that happens to be bearish, expiring in 31 day(s) on May 17, 2024. This event was a transfer of 25 contract(s) at a $40.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $28.7K, with a price of $1150.0 per contract. There were 5425 open contracts at this strike prior to today, and today 114 contract(s) were bought and sold. 
• Regarding TJX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>), we observe a call option trade with bullish sentiment. It expires in 276 day(s) on January 17, 2025. Parties traded 40 contract(s) at a $85.00 strike. The total cost received by the writing party (or parties) was $56.8K, with a price of $1420.0 per contract. There were 2679 open contracts at this strike prior to today, and today 55 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AMZN

CPNG

SBUX

TSLA

10 Consumer Discretionary Stocks With Whale Alerts In Today's Session

Although U.S. stocks closed mostly higher on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Lennar </h3>
<ul>
<li>The Trade: Lennar Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/len#NYSE">LEN</a>) Director Amy Banse <a href="https://www.benzinga.com/quote/LEN/analyst-ratings"> acquired a total of 2,438 shares </a> an average price of $157.00. To acquire these shares, it cost around $247,275.</li>
<li>What&rsquo;s Happening: LP Building Solutions and Lennar reported a nationwide supply agreement.</li>
<li>What Lennar Does: Lennar is one of the largest public homebuilders in the United States. The company&#39;s homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name.</li>
</ul>
<h3>SMART Global </h3>
<ul>
<li>The Trade: SMART Global Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgh#NASDAQ">SGH</a>) President and CEO Mark Adams acquired a total of 10,000 shares at an average price of</li>
<li>$18.79. To acquire these shares, it cost around $187,896.</li>
<li>What&rsquo;s Happening: On April 9, The company reported quarterly earnings of 27 cents per share, beating the analyst consensus estimate of 25 cents by 8%.</li>
<li>What SMART Global Does: SMART Global Holdings Inc is a designer and manufacturer of electronic products focused on memory and computing technology areas.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Neogen </h3>
<ul>
<li>The Trade: Neogen Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neog#NASDAQ">NEOG</a>) Director James C Borel <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 7,500 shares </a> at an average price of $13.06. To acquire these shares, it cost around $97,986.</li>
<li>What&rsquo;s Happening: On April 9, Neogen reported worse than expected third-quarter FY2024 earnings and cut 2024 guidance.</li>
<li>What Neogen Does: Neogen Corporation, headquartered in Lansing, Michigan, develops, manufactures, and markets various products for food and animal safety.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38215285/citigroup-jpmorgan-and-3-stocks-to-watch-heading-into-friday"> Citigroup, JPMorgan And 3 Stocks To Watch Heading Into Friday </a>

CVCO

Shares of homebuilders and household durables stocks are trading lower following hotter-than-expected March inflation data, which could cause rate cut uncertainty.

The partnership provides high-quality, sustainable products to one of America's most renowned builders
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Flpcorp.com%2F&amp;esheet=53926586&amp;newsitemid=20240410890486&amp;lan=en-US&amp;anchor=LP+Building+Solutions&amp;index=1&amp;md5=859c6cbd135f0add60ad89d8b8395997">LP Building Solutions</a> (LP), a leading manufacturer of high-performance building products, and <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.lennar.com%2F&amp;esheet=53926586&amp;newsitemid=20240410890486&amp;lan=en-US&amp;anchor=Lennar+Corporation&amp;index=2&amp;md5=47ee802ce89906a787df9d284c53ad8a">Lennar Corporation</a>, one of the nation's leading homebuilders, are proud to announce a nationwide supply agreement. The partnership signifies an expansion of the existing collaboration between the two industry leaders, leveraging LP's expertise in engineered wood with Lennar's extensive market reach.
This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20240410890486/en/">https://www.businesswire.com/news/home/20240410890486/en/</a>
Under the agreement, Lennar will expand its utilization of LP's industry-leading engineered wood building products, including LP&#xAE; SmartSide&#xAE; Trim &amp; Siding, LP&#xAE; Structural Solutions sheathing, sub-flooring, and oriented strand board (OSB). These products are recognized for their durability and performance, aligning with Lennar's commitment to delivering quality homes to its customers.
"At Lennar, we prioritize making homeownership accessible without compromising on quality," said Lennar Senior Vice President of Supply Chain Kemp Gillis. "Integrating LP's innovative building materials into our projects enables us to further our dedication to constructing high-quality homes that meet the diverse needs of homeowners."
"LP's expanded relationship with Lennar underscores our shared commitment to excellence in home construction," said LP Chair and CEO Brad Southern. "Our collaboration expands the market reach of LP SmartSide and LP Structural Solutions products, enhancing the accessibility of high-performance, carbon-negative solutions for homebuyers."
For more information on Lennar, visit <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.lennar.com%2F&amp;esheet=53926586&amp;newsitemid=20240410890486&amp;lan=en-US&amp;anchor=lennar.com&amp;index=3&amp;md5=167d55dbf2f4859c8da3caca663a6a78">lennar.com</a>. For more information on LP's product portfolio, visit <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Flpcorp.com%2F&amp;esheet=53926586&amp;newsitemid=20240410890486&amp;lan=en-US&amp;anchor=lpcorp.com&amp;index=4&amp;md5=6c95c9ddf2c34afb37662a2afc6bf037">lpcorp.com</a>.

LP Building Solutions and Lennar Announce Nationwide Supply Agreement

Citigroup analyst Anthony Pettinari maintains Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) with a Buy and raises the price target from $179 to $198.

Price Target

Analyst Ratings

Citigroup Maintains Buy on Lennar, Raises Price Target to $198

Lennar's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) short percent of float has fallen 8.02% since its last report. The company recently reported that it has 4.18 million shares sold short, which is 1.95% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.49 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Lennar Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712149212_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Lennar has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Lennar's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Lennar's peer group average for short interest as a percentage of float is 6.45%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(LEN) - Analyzing Lennar's Short Interest

Wedbush analyst Jay McCanless downgrades Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) from Neutral to Underperform and maintains the price target from $144 to $144.

Downgrades

Wedbush Downgrades Lennar to Underperform, Maintains Price Target to $144

LGIH

Shares of several homebuilders are trading lower after being downgraded by Wedbush from Neutral to Underperform. The sector may also be under pressure amid a rise in Treasury yields.

Shares of homebuilders are trading lower amid a rise in Treasury yields.

Jim Cramer highlighted the role of share count reduction behind more than half of the S&amp;P 500 stocks achieving new 52-week highs in the first quarter.
What Happened: Cramer mentioned that a considerable number of companies have substantially cut their share count since 2019, an approach that has mostly flown under the radar, as reported by <a href="https://www.cnbc.com/2024/03/31/jim-cramer-why-you-should-check-the-share-count-before-buying-a-stock.html">CNBC</a> on Monday. This trend of share count reduction spans multiple sectors, including housing, retail, and technology.
&#8220;Check the share count before you buy a stock. You want a management that agrees with you, not one that thinks it can give away stock as compensation, often to throw you off the scent of adulterated earnings power,&#8221; he said.
Cramer cited examples of companies such as Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) and Toll Brothers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) in the housing sector that have significantly reduced their share count. For example, Lennar&#8217;s outstanding shares have decreased to 276 million from 318 million five years ago, while Toll Brothers&#8217; shares have dropped to 105 million from 145 million.
Similarly, retail companies like Best Buy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) and Dick&#8217;s Sporting Goods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) have also cut their share counts. Best Buy&#8217;s share count has reduced to 215 million from 264 million, and Dick&#8217;s Sporting Goods&#8217; share count has shrunk to 80 million from 87.5 million.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/38013652/peter-schiff-warns-of-far-more-devastating-outcome-than-2008-global-financial-crisi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Warns Of Far More &#8216;Devastating Outcome&#8217; Than 2008 Global Financial Crisis As He Slams Jerome Powell&#8217;s &#8216;Misguided&#8217; Optimism</a>
In the tech sector, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) have been repurchasing their stocks, leading to a decrease in their share counts. Apple&#8217;s shares have declined to 15.9 billion from 18.6 billion in 2019, while Microsoft&#8217;s share count has reduced to 7.43 billion from 7.6 billion.
Why It Matters: This trend of share count reduction comes in the wake of a predicted 15% surge in the S&amp;P 500 by the end of 2024, <a href="https://www.benzinga.com/markets/equities/24/03/37927561/goldman-sachs-predicts-15-upside-for-s-p-500-ai-boom-could-drive-market-to-6-000">as noted by Goldman Sachs</a>. The exceptional performance of mega-cap tech stocks is expected to drive this growth.
Despite a slight decline in overall market sentiment as indicated by the CNN Money Fear and Greed index, <a href="https://www.benzinga.com/news/earnings/24/04/38016554/investor-sentiment-edges-lower-us-stocks-record-gains-last-quarter">U.S. stocks recorded gains</a> in the last quarter. 
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38016740/dogecoin-mirrors-2018-2021-patterns-crypto-analyst-says-doge-could-at-the-very-begi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Mirrors 2018-2021 Patterns: Crypto Analyst Says &#8216;DOGE Could At The Very Beginning Of A Massive Parabolic Bull Run&#8217;</a>
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Jim Cramer Says Investors Should Check Share Count Before Buying A Stock: 'You Want A Management That Agrees With You'

Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) has outperformed the market over the past 10 years by 5.05% on an annualized basis producing an average annual return of 15.8%. Currently, Lennar has a market capitalization of $47.00 billion. 
Buying $100 In LEN: If an investor had bought $100 of LEN stock 10 years ago, it would be worth $434.31 today based on a price of $168.50 for LEN at the time of writing.
<h3>Lennar's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711654227_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Lennar 10 Years Ago Would Be Worth This Much Today

Mortgage lock-in is an often overlooked area of the U.S. housing market. It hampers the ability of homeowners to sell their properties, adding to the shortage in supply of available homes, <a href="https://www.benzinga.com/real-estate">pushing house prices ever higher</a>.
Here&#8217;s the problem. Most of the 50 million active mortgages in the U.S. have fixed rates. Those taken out prior to 2022 when the Federal Reserve began raising interest rates will have fixed mortgage rates at far below the prevailing market rate, which creates a disincentive to sell.
Families who, for whatever reason, need to upscale, instead of re-mortgaging at current high rates, are staying put and extending or making improvements to their existing homes.
This has helped boost sales at home development retailers such as Home Depot Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Lowe&#8217;s Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) — both up around 30% in the past year — but has added to the problem of falling sales of existing homes.
This, in turn, is creating a housing market that is low on inventory, pushing the onus on to builders, such as D.R. Horton Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) and Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>), to provide more new homes — and within demographics that help support housing market mobility.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37845734/housing-starts-rebound-lift-homebuilder-stocks-sign-of-economic-resilience">Housing Starts Rebound, Lift Homebuilder Stocks: Sign Of Economic Resilience</a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/20121202/newplot-2024-03-20T161153.786.png" alt="" class="wp-image-259377" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/20121202/newplot-2024-03-20T161153.786.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/20121202/newplot-2024-03-20T161153.786-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
<h2 class="wp-block-heading">Worsening Affordability</h2>
The Federal Housing Finance Agency, in a <a href="https://www.fhfa.gov/PolicyProgramsResearch/Research/Pages/wp2403.aspx?utm_source=www.resiclubanalytics.com&amp;utm_medium=newsletter&amp;utm_campaign=the-lock-in-effect-has-cost-the-housing-market-1-3-million-home-sales-and-put-upward-pressure-on-u-s-home-prices-finds-fhfa">report</a> this week, said that for every percentage point that market mortgage rates exceed the origination interest rate, the probability of sale is decreased by 18.1%.
Currently, according to Freddie Mac, the average rate on a 30-year mortgage stands at 6.74%, down from the October 2023 peak of 7.79%.
This mortgage rate lock-in led to a 57% reduction in total home sales with fixed-rate mortgages in the fourth quarter of 2023, and prevented 1.33 million sales between the second quarter of 2022 and the end of 2023.
This reduction in supply, the agency said, increased house prices by 5.7%, offsetting the direct impact of elevated rates, which decreased prices by 3.3%.
&#8220;These findings underscore how mortgage rate lock-in restricts mobility, results in people not living in homes they would prefer, inflates prices, and worsens affordability,&#8221; said Ross Batzer, lead analyst on the report.
While the Federal Reserve is expected to begin its monetary easing cycle later this year, possibly cutting rates at its May meeting, the lag in mortgage rate decreases means that mortgage lock-in could persist for some years to come, the report says.
To address this problem, the authors suggest a number of solutions including tax credits for sellers of starter homes, or mortgage portability — where a homeowner retains financing terms when moving to another home.
Federal planners might, in the future, have to take a closer look at the potential homebuyer demographic and require homebuilders to provide more starter homes for young families.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37798094/settlement-shake-up-nars-418m-agreement-reshapes-real-estate-dynamics">Settlement Shake-Up: National Association Of Realtors&#8217; $418M Agreement Reshapes Real Estate Dynamics</a>
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Are You A Housing Market Lock-In? High Mortgage Rates Result In 'People Not Living In Homes They Would Prefer'

New housing projects initiated by homebuilders in February exceeded expectations, reversing the downward trend seen in January due<a href="https://www.benzinga.com/real-estate"> to severe winter storms.</a>
Housing starts soared by 10.7% month-on-month in February to an annualized rate of 1.521 million, beating forecasts of 1.425 million. Much of the gain was seen in single family housing starts.
In January, poor weather hampered builders breaking ground on new projects and just 1.374 million housing starts were seen that month, down 12.3% from the previous month.
Meanwhile, building permits, which are seen as an indicator of future building activity, rose by 1.9% in February to 1.518 million.
<h2 class="wp-block-heading">Affordability Issues In Housing Market</h2>
While high interest rates continue to pose affordability issues in the housing market, the average rate for a 30-year mortgage has eased over the past three weeks, standing at 6.74% as of March 14.
Sales of new homes have begun to creep higher, but remain down at the levels seen in the spring and early summer of 2023. In January 661,000 new homes were sold, missing forecasts of 680,000. The consensus forecast for February sales is 673,000.
&#8220;Demand for new homes is&nbsp;holding up despite still-high mortgage rates, largely due to a shortage of existing homes for sale. Few&nbsp;existing homeowners want to move, as most locked-in very low mortgage rates during the pandemic,&#8221; said Ian Shepherdson, chief economist at Pantheon Macroeconomics.
But housebuilders shares have flagged in recent days under the strain of a market where persistent high interest rates and affordability remains the biggest risk in terms of sales.
While demand remains robust and supply short, average house prices will remain close to historic highs.
The average house price in the U.S. currently stands at around $492,000. This is down from the $552,600 record seen in the fourth quarter of 2022, but still high by historical standards.
Also Read: <a href="https://www.benzinga.com/government/24/03/37698819/retail-sales-climb-in-february-as-consumer-activity-picks-up-but-miss-expectations">Retail Sales Climb In February As Consumer Activity Picks Up, But Miss Expectations: &#8216;The Economy Is Slowing&#8217;</a>
<h2 class="wp-block-heading">Market Reactions</h2>
Since the beginning of 2023, the iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>), an exchange traded fund that tracks the aggregate prices of U.S. homebuilders, has gained 78%. However, since the start of March it is down 1.6%.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/19102719/newplot-2024-03-19T142708.556.png" alt="" class="wp-image-257493" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/19102719/newplot-2024-03-19T142708.556.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/19102719/newplot-2024-03-19T142708.556-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Among the top stocks in the ITB, D.R. Horton Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHE#NYSE">DHE</a>), the country&#8217;s biggest homebuilder, is flat over the year after its <a href="https://www.benzinga.com/news/earnings/24/01/36740128/why-builder-d-r-horton-shares-are-diving-today">quarterly results</a> disappointed, while Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) remains 5% higher year-to-date, despite a sharp drop last week after <a href="https://www.benzinga.com/news/earnings/24/03/37598354/warren-buffetts-bet-on-lennar-will-the-homebuilding-giants-earnings-report-validate-the-investment">missing</a> revenue estimates.
Jeffrey Roach, chief economist for LPL Financial, said: &#8220;Investors should know that demand for new homes remains fairly stable despite high borrowing costs. Markets have rewarded investors aware of the opportunities in housing-related sectors.&#8221;
Now Read: <a href="https://www.benzinga.com/news/earnings/24/03/37598354/warren-buffetts-bet-on-lennar-will-the-homebuilding-giants-earnings-report-validate-the-investment">Warren Buffett&#8217;s Bet On Lennar: Will The Homebuilding Giant&#8217;s Earnings Report Validate The Investment?</a>
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iShares Dow Jones US Homenstruction Index Fund

Housing Starts Rebound, Lift Homebuilder Stocks: Sign Of Economic Resilience

Wells Fargo analyst James Feldman maintained a Buy rating on Lennar (LEN – Research Report) today and set a price target of $185.00. The company's ...

Lennar (LEN) Gets a Buy from Wells Fargo

Are you ready to build out your portfolio with a hidden housing pick for 2024? D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) stock isn't talked about enough in the financ...

D.R. Horton Stock (NYSE:DHI): Build Your Portfolio from the Ground Up

Long-term mortgage rates surpass 7% for 1st time in 2024

The stock experienced a classic "sell the news" dip today.

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Third Avenue International Real Estate Value Fund Q1 2024 Portfolio Manager Commentary

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Invitation Homes enters JV with Quarterra, a Lennar company

Non-Farm Payrolls Preview For April 2024: 3 Major Considerations

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Press Releases

LENNAR GROWS NEW YORK PRESENCE WITH ACQUISITION OF 1,273 HOMESITES IN TUXEDO RESERVE MASTER-PLANNED COMMUNITY

Dividends

Lennar Corporation Increases Annual Dividend to $2.00 Per Share and Share Repurchase Authorization by $5 billion

Quarterra Multifamily Announces the Start of Leasing at Kindred Apartments

LENNAR BEGINS SALES AT STONEGATE PRESERVE, NEW AMENITY-RICH MASTER-PLANNED COMMUNITYIN PALMETTO, FLORIDA

LENNAR CORPORATION'S FIRST QUARTER EARNINGS CONFERENCE CALL TO BE BROADCAST LIVE ON THE INTERNET

Earnings

Lennar Reports First Quarter 2024 Results

Quarterra Multifamily Announces the Continued Growth of its Emblem Communities Development Program

Quarterra Multifamily Announces the Start of Leasing at Emblem Conyers Apartments

Lennar Corporation Declares Quarterly Dividends

Invitation Homes Announces Joint Venture With Quarterra – a Lennar Company, Centerbridge, and Other Capital Partners

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Lennar Stock (NYSE:LEN), Short Interest Report

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