WASHINGTON-- Sales of new homes likely rose in April, evidence that the housing market is gaining strength during the critical spring buying season. The report from the Commerce Department is due at 10 a.m. Eastern. In March, sales increased to a rate of 417,000. That was close to January's pace of 445,000, the fastest since July 2008.
NEW YORK-- Homebuilders' shares are getting a lift Wednesday following Toll Brothers' strong second-quarter performance and a healthy housing report. Earlier in the day, Toll Brothers Inc. reported quarterly earnings of 14 cents per share on revenue of $516 million.
NEW YORK-- Shares of homebuilders tumbled Thursday on a report that U.S. builders broke ground on fewer homes in April, but analysts said the drop could be looked at as a buying opportunity. According to the Commerce Department, builders started construction at a seasonally adjusted annual rate of 853,000, a 16.5 percent drop from the March pace of 1.02 million.
WASHINGTON-- Builders likely broke ground at a slightly slower pace in April but activity was expected to remain close to the 1- million mark. The Commerce Department will release the report at 8:30 a.m. EDT Thursday.
WESTLAKE VILLAGE, Calif.-- Ryland Group Inc.' s strong sales trends from the first three months of the year have continued into April, suggesting a healthy spring selling season for the homebuilder.
April 29- Ryland Group Inc:. *S&P Capital IQ raises to hold from sell; raises price target by $19 to $53. Reuters Station users, click. 1568.