Michigan Housing Stocks Perform Well in 2012

The detroitnews reports of the largest 64 publicly-traded Michigan firms, all but 13 saw the value of their shares increase in 2012, realizing an average return of 19 percent compared to 13.4 percent for the S&P’s 500 Index. The largest gainers have been companies in the housing and financial industries, including Bloomfield Hills-based homebuilder Pulte Group, which spiked 188 percent, and Grand Rapids headquartered Universal Forest Products, Inc. (UFPI) which moved up 23 percent. UFPI provides structural components to the MH industry, closing up +0.61% Dec. 31 at 38.04. MHProNews has learned from CNNMoney, while Southfield-based MHC owner Sun Communities’ (SUI) stock remained in a 52 week range from 35.06 to 47.84 in 2012, the company’s earnings growth for 2012 was up +620 percent, compared to +66.67 percent for 2011. Sun closed up 1.99% Dec. 31 at 39.89.

(Photo credit: Chris Butler/Idaho Statesman–Dolores Laredo working on MH)

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