US home builder stocks have been the best performing industry group over the past month.

XHB

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The Dow Jones US Home Construction Index is up over 11% in the past 30 days and up over 20% from the mid-July low.

Investors are looking for another bottom as the industry continues to work off inventory and deal with cancellations.  However, not all home builders are contributing to the comeback.  Toll Brothers (TOL) is near a 52-week high while Hovnanian Enterprises (HOV) is near a 52-week low.

The industry peaked in mid-2005 and is now valued at less than a third of its mid-decade high.

The Dow Jones U.S. Home Construction Index Fund (ITB) tracks the Dow Jones U.S. Home Construction Index.  Top holdings include Pulte Homes (PUL), Toll Brothers and Standard Pacific (SPF).

The SPDR S&P Homebuilders ETF (XHB) tracks the S&P Homebuilders Select Industry Index.  XHB is an equal-weighted portfolio of home builders and home retailers such as Lowes (LOW) and Home Depot (HD).