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NEW YORK ( TheStreet) -- Homex Development (NYSE: HXM) hit a new 52-week low Friday as it is currently trading at $18.62, below its previous 52-week low of $18.71 with 93,589 shares traded as of 11:48 a.m. ET. Average volume has been 236,500 shares over the past 30 days. Homex Development has a market cap of $1.1 billion and is part of the financial sector and real estate industry. Shares are down 40.4% year to date as of the close of trading on Thursday. Desarrolladora Homex, S.A.B. de C.V. operates as a vertically integrated home development company principally engaged in the development, construction, and sale of affordable entry-level, middle-income, and tourism housing in Mexico; and affordable entry-level housing in Brazil. The company has a P/E ratio of 8.9, above the average real estate industry P/E ratio of 8.3 and below the S&P 500 P/E ratio of 17.7.