UPS SUN Nov

Housing Industry Braces for a Downturn, but Investors Are Piling In

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wsj.com

Investors are seizing on any sign inflation has peaked as a reason to snap up beaten-down shares. Just look at housing stocks.

Redfin Corp. shares have soared more than 50% since Nov. 9 when the real-estate brokerage’s chief executive warned, “We have to assume that the sun will never come up.” Shares of home builder PulteGroup Inc.

have gained 11% over the same period, despite its CEO recently describing a widespread pullback in demand as interest rates climbed.

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