"A long-awaited interest rate cut seems all but certain to happen this week, but homebuilder stocks have been climbing in anticipation since October 2023..."
"RBC analyst Mike Dahl sees the stocks priced for perfection as industry fundamentals remain choppy underneath the surface..."
"The S&P Homebuilders ETF (XHB) has advanced nearly 26% in 2024, with a 15% surge over the past three months as signs of slowing inflation grew more tangible..."
"It's unclear to us that initial rate cuts will do much to spark a meaningful change here..."
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