Why Did Warren Buffett’s Berkshire Hathaway Buy Homebuilder Stocks?

https://www.forbes.com/sites/bill_stone/2023/08/20/why-did-warren-buffetts-berkshire-hathaway-buy-homebuilder-stocks/?sh=296114b61cf9

Summary from WOC Street:

Berkshire Hathaway purchased shares in three homebuilders, including D.R. Horton, NVR, and Lennar Class B.

The total value of the purchases was about $814 million.

The Berkshire homebuilder portfolio reflects significantly cheaper valuations compared to the S&P 500.

The rise in mortgage rates is a primary headwind for new home sales.

The purchases may reflect a view that better news is on the horizon.

US real estate on the rise again?