Investors Cautious, Housing Stocks Mixed, Patrick Gains

As home prices fell for the fifth consecutive month, hitting their lowest point since Q4 2002, investors shied away from urging the market higher. CNNMoney tells MHProNews.com all three markets lost ground today, as the Dow Jones Industrial Average dropped -43.90 points, -0.33 percent, to close at 13,197.73. The Nasdaq moved down -0.07 percent to end the trading day at 3,120.35, while the S&P lost -0.28 percent to finish at 1,412.52. The Yahoo! Finance Manufactured Housing Composite lost -0.30 percent but still closed above the thousand point mark at 1,021.2. All the housing stocks we track closed mixed, but Patrick Industries lead the gainers, moving up 5.21 percent, +0.58, to close at 11.71. Cavco lost the most of declining stocks, dropping -1.17 percent, -0.54, to close at 45.75. Affiliated Managers Group 112.61 -0.61 (-0.54%). Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway 112,659 -896.00 (-0.73%). Champion, Liberty Homes, Deer Valley and Palm Harbor all remained unchanged. Drew Industries 27.39 +0.48 (+1.78%). Equity Lifestyle Properties 68.44 -0.21 (-0.31%). Louisiana Pacific Corp. 9.97 +0.16 (+1.63%). Nobility Homes remained unchanged at 8.27. Skyline Corp. 7.50 +0.12 (+1.63%). Sun Communities 43.26 +0.02 (+0.05%). Third Avenue Value Fund (3-26) 46.37 +0.84 (+1.84%). UMH Properties 10.70 -0.03 (-0.28%). Universal Forest Products 34.88 -0.08 (-0.21%).

(Graphic credit: CNNMoney and RealTick)

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