Philadelphia Housing Sector IndexHousing stocks are also moving sharply higher, as reflected by the 5.8 percent surge by the Philadelphia Housing Sector Index. With the gain, the index is recovering from its lowest closing level in over a month and a half.
The index is being led higher by shares of M/I Homes, Inc. (MHO), which have shot up by 17 percent, bouncing off their lowest closing price in just over three months.