Dream Finder Homes stock shares follow market struggles into 2024

Stock shares of Florida-based homebuilder Dream Finder Homes Inc. (NYSE: DFH) have been highly positive for the past year, up 226%. But shares of DFH have followed overall market struggles into the new year.

On Tuesday, the Dow dropped 300 points in earlier trading as market struggles continued into the new year. DFH shares have followed, dropping -8.11% in January, so far.

Founded in 2008, Dream Finders Homes Inc. builds and sells single-family entry-level, and first-time and second time move-up homes. Their projects are placed across eight U.S. states, over 20 different markets, and close to 150 unique communities, with over 5,000 homes closed. Its communities are in Florida, Colorado, North Carolina, South Carolina, Georgia, Texas, Maryland, and Virginia.

In recent developments, the company plans on delivering more than 1,300 housing units to Florida’s Horizon West, a new community located in southwest Orange County, Fla. Horizon West is located near Disney theme parks.

DFH Share Performance

January 2024 - Down -8.11% (-$2.88)

One Year – Up 226.83% ($22.66)

Two Years – Up 74.32% ($13.92)

Five Years – Up 52.64% ($11.26)

During the company’s third quarter 2023 report in November, Dream Finders Homes CEO Patrick Zalupski addressed highlights and a plan moving forward.

“Home closings of 1,798 and net new orders of 1,535 increased 17% and 38%, respectively, compared to the year-ago quarter,” Zalupski said. “Our performance in a difficult interest rate environment reflects our ability to generate sales and successfully deliver on our growth strategy. We continue to focus on managing construction times and increasing inventory turnover.”

Zalupski continued, “Although uncertainty remains for the remainder of 2023 and beyond, we have set ourselves up for another successful year and have increased guidance to approximately 6,750 closings for the fiscal year.”

DFH shares are up 22.88% since July 17, 2023; Residential and commercial builder stocks top the charts

Disclaimer: This post is provided for information purposes only and should not be used as the basis for any investment decision. I am neither licensed nor qualified to provide investment advice. Keith Stein has no position in any stocks mentioned in this post. DCNewsroom has no position in any of the stocks mentioned in this post.