Warren Buffett has shone confidence on the US housing sector through new positions in three housebuilders opened by his investment firm Berkshire Hathaway.
Berkshire began building stakes in D.R. Horton (NYSE:DHI) Inc, Lennar (NYSE:LEN) Corporation and NVR Inc in the three months to June, according to Securities and Exchange Commission (SEC) filings.
These amounted to US$720 million, US$70 million and US$17 million respectively as of June 30 and mark the only three positions opened by the firm during the last quarter.
The investments also mark a big bet on the US housebuilding sector by Buffett, which analysts tip is poised to benefit from a lack of inventory across the wider market.
Shares in the trio opened higher on Tuesday on the back of the news.