Warren Buffett’s Berkshire Hathaway now owns roughly 5.7 million shares of D.R. Horton, the largest homebuilder in the U.S., despite headwinds threatening the industry including rising mortgage rates.
In the 3Q: 66% of homes closed were over $400,000Warren Buffett, chairman and CEO of Berkshire Hathaway Inc., speaks during a Bloomberg Television interview in New York.
"D.R. Horton has also shown the foresight to start developing a rent to own model as home purchases slow. They have been focusing more on single family rental development versus actual homes for sale, while investing over $1 billion in that arm the last three years," Bustamante said. Data compiled by the National Association of Home Builders/Wells Fargo Housing Market Index, which measures the pulse of the single-family housing market, showed confidence among builders in the U.S. housing market unexpectedly plunged in August as a spike in mortgage rates dampened consumer demand for new homes.
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