U.S. home resales rebounded less than expected in February as a persistent shortage of properties on the market pushed up prices.» Read More
PulteGroup Inc. added 59 cents, or 2.7 percent, to $22.13. Toll Brothers Inc. rose 60 cents to $38.81. D.R. Horton Inc. gained 55 cents, or 2 percent, to $27.67.
NEW YORK— U.S. stocks dropped Tuesday as investors weighed company news and the latest report on consumer prices. Signs that the dollar could resume its recent surge also made investors nervous. "We're in something of a holding pattern as markets continue to digest all that's going on," said Kristina Hooper, U.S. investment strategist at Allianz Global Investors.
Lennar Corp, Toll Brothers Inc and KB Home, among the top six builders, together reported an average 19 percent increase in orders in the latest quarter, up from 3.3 percent in the same period last year. Lennar, the No.2 U.S. homebuilder after D.R. Horton Inc, said on Thursday it expected single-family housing starts and permits to rebound "shortly".
The regular session saw a fairly broad rally, even as Janet Yellen talked about rates.
Some of Thursday's midday movers:
A monthly index from the National Association of Realtors measuring signed contracts to buy existing homes fell 3.7 percent last month.
Some of the names on the move ahead of the open.
For the best trade around the State of the Union, political and financial analysts recommend housing and basic economy-related stocks.
Jan 15- Lennar Corp, the second-largest U.S. homebuilder by the number of homes sold, said it expects 2015 margins to be squeezed as falling oil prices hurt demand in Houston, a city heavily dependent on the energy sector. The warning overshadowed a 50 percent jump in quarterly profit and pushed Lennar's shares down as much as 9 percent. Houston accounted for about...
Some of Thursday's midday movers:
Jan 15- Lennar Corp, the second-largest U.S. homebuilder by the number of homes sold, reported its first fall in quarterly margins in three years and forecast a further drop in 2015 as costs rise. The warning overshadowed a 50 percent jump in quarterly profit and pushed Lennar's shares down as much as 4.3 percent in morning trading on Thursday.
Some of Tuesday's midday movers:
WASHINGTON, Jan 7- The Federal Housing Administration will reduce annual mortgage insurance premiums by 0.5 percentage point to 0.85 percent from 1.35 percent, the White House said on Wednesday. In a statement, the White House said the move was part of President Obama' s efforts "to expand responsible lending to creditworthy borrowers." The administration also...
Some of Wednesday's midday movers:
In a large options trade Monday, one trader bet housing stocks will collapse in the coming months.
Next year is shaping up to be one of those rare times when strong economic growth is accompanied by low interest rates, the perfect mix for housing.
When it comes to housing, low gas prices not only help pad people's pocketbooks, but they are also boosting consumer confidence.
Pulte Homes is rushing to build more so-called active adult communities catering to baby boomers, many who still work full time.
CNBC's Diana Olick speaks to Richard Dugas, Pulte Group CEO, about the state of the housing market and Pulte's big bet on active adult communities.
These states- Texas, Florida, Arizona, Nevada, North and South Carolina, Georgia and California- accounted for about half of the total job growth in the 12 months to September, according to RBC Capital Markets. The shift bodes well for D.R. Horton Inc, the largest U.S. homebuilder, and rivals Lennar Corp and PulteGroup Inc, each of which gets a large part of its revenue...