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The Housing Boom Could Last for a Decade. Buy These Stocks.


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Workers putting up a frame at the Toll Brothers' Travisso Master Plan community in Leander, Texas.

Photograph by Matthew Johnson

Housing is booming. Just take a look at Century Communities’ development in Tumwater, Wash., where more than 140 homes, at prices as high as $500,000, have been sold this year. Tumwater is viewed as a suburb of Seattle—even at 60 miles away. It’s a scene that has been repeated over the past two years in markets all across the country.

Are we nearing a peak?

No,...