This housing market cycle is so unique that even Warren Buffett broke his own rules to make money on it

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter.

Back in his 1996 letter to shareholders, Warren Buffett famously wrote: “If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.”

That statement only makes the recent homebuilder stock purchases and sales by Berkshire Hathaway—led by Buffett, who will step down as CEO at the end of 2025—even more eyebrow-raising.

Here’s the timeline. • August 2023: Berkshire Hathaway disclosed that in Q2 2023, the company made a bet on U.S. homebuilders and bought 5,969,714 shares of D.R. Horton, 152,572 shares of Lennar, and 11,112 shares of NVR. • February 2024: Berkshire Hathaway disclosed that in Q4 2023, the company had sold off 5,969,71