CNBC reports that a fear of rising interest rates has caused high-end housing stocks to lose value.
Though the rising interest rates are a sign of a strengthening economy, which would benefit housing companies, investors fear they would "put the kibosh" on the real estate market, Evercore ISI housing analyst Stephen Kim says.
However, Kim thinks the housing sell-off at this point is way overdone.
While the higher end of the market "has actually started to show some signs of weakening," the lower end remains strong, he said, arguing stock valuations in the sector "look very attractive."
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