DHI drawdown: 25.5% below the all-time high
D.R. Horton Inc. (DHI) is 25.5% below its all-time high, set Sep 19, 2024 (as of market close, Jul 24, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1992).
- Below all-time high
- −25.5%
- 74.5% of ATH
- All-time high
- $197.1
- Sep 19, 2024
- Time below the high
- 1.8 yrs
- since Sep 19, 2024
- Worst-ever drawdown
- −89.7%
- Nov 21, 2008
- Longest underwater
- 12.2 yrs
- between all-time highs
- Today's level first reached
- Dec 14, 2023
- 2.6 yrs ago
- Last time this deep
- Nov 21, 2022
- in a previous episode
% of all-time high since 1992#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of DHI, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Jul 20, 2005 | Nov 21, 2008 | −89.7% | 3.3 yrs | Oct 19, 2017 | 12.2 yrs |
| Jul 21, 1998 | Oct 21, 1999 | −57.8% | 15 mo | Dec 8, 2000 | 2.4 yrs |
| Feb 20, 2020 | Mar 18, 2020 | −53.6% | 27 days | Jul 16, 2020 | 5 mo |
| Jan 14, 1994 | Dec 28, 1994 | −51.1% | 11 mo | Jan 3, 1996 | 2.0 yrs |
| Dec 10, 2021 | Jun 17, 2022 | −44.8% | 6 mo | Apr 28, 2023 | 17 mo |
| Mar 12, 2002 | Oct 9, 2002 | −44.1% | 7 mo | Jun 5, 2003 | 15 mo |
| Sep 19, 2024 | Apr 8, 2025 | −41.6% | 7 mo | not yet | 1.8 yrs+ |
| Jan 8, 2018 | Dec 24, 2018 | −37.7% | 11 mo | Oct 8, 2019 | 1.7 yrs |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1992: how far DHI stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: DHI is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is DHI from its all-time high?
- DHI is currently 25.5% below its all-time high, set Sep 19, 2024 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest DHI drawdown ever?
- The deepest decline on record in our data (since 1992) took the stock 89.7% below its prior high, bottoming Nov 21, 2008. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1992 (split-adjusted). "All-time" means since our price data begins — DHI may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.