The nation's home builders continue to feel much better about their industry.
Fears of the fiscal cliff could be impacting potential buyers already. The new home sales monthly number from the U.S. Department of Commerce is based on signed contracts.
Sales of existing homes are recovering slowly, but a drop in supplies of those homes is pushing confidence among the new home builders to a six year high.
The federal agency that some credit with saving the housing market during the worst of the recent crash, may now be in need of taxpayer help itself.
The homebuilders are rising from the ashes, after overbuilding and a credit crash sent sales and construction to levels not seen economists began counting all those numbers; they are rising, but not necessarily thriving.
The one thing standing in the way of a more robust housing recovery, is tight credit. Mortgage rates are at near-historic lows, but too many potential home buyers still cannot access these rates due to damaged credit.
A jump in signed contract to buy newly built homes in September brought volumes to the highest level since April of 2010. Is it enough to put a period on the statement that housing is in full recovery? Perhaps, but not an exclamation point.
It’s hard to imagine, given that the nation’s housing market is still digging itself out of an epic foreclosure crisis, that there just are not enough homes available to buy. But, that may be the case.
Real estate is and always will be local, and this recovery is becoming increasingly local. That is clear in the latest numbers on supplies of distressed homes.
*Credit Suisse cuts PulteGroup Inc to neutral from outperform. *Credit Suisse raises PulteGroup Inc price target to $15 from $12.50. *Credit Suisse cuts MDC Holdings Inc to underperform from neutral.
In a dismal summer for economic stats, housing continues to be the bright spot.
Take a look at some of Friday's morning movers:
Homebuilders have been on a stellar six-month run, with the S&P homebuilder index surging almost 80 percent since mid-September, and some analysts expect the rally to continue.
Stocks eked out modest gains Friday, buoyed by a better-than-expected government jobs report, but still ended off their best levels following news of a "credit event" in Greece. Still, the S&P 500 and Nasdaq logged gains for a fourth consecutive week.
Shares of the following companies are showing unusual moves in Tuesday's trading session.
While housing reports this year have generally pointed to an improving recovery in the real estate market, the growth remains at an anemic pace, translating into choppy moves for housing stocks for the foreseeable future.
Despite mixed results in the housing sector, many homebuilder stocks are outperforming the overall market by a large margin.
Take a look at some of Thursday morning's early movers:
The housing industry is healing, but one Goldman Sachs analyst recommends investors steer clear of the rally in homebuilders such as Lennar and PulteGroup.
Stocks ended lower in volatile trading Thursday after Fed Chairman Ben Bernanke failed to provide additional detail on how to boost the weakening U.S. economy and as investors looked ahead to President Obama's jobs speech later this evening.