Despite weak housing numbers last month, the housing market has made significant strides in the past few years. After suffering in the years following the financial crisis, housing indicators such as new home sales and housing starts are steadily approaching pre-recession levels. Real estate has always played an important role in the U.S. economy and continues to be an important bellwether for the health of the consumer. It also impacts earnings of construction and home improvement companies. This week we see two companies reporting whose success has been influenced by the status of the housing market.
First up this week, homebuilder Lennar is scheduled to report first quarter earnings tomorrow before the opening bell. After a strong 2014 and even better 2015, Lennar is well positioned to kick off its fiscal 2016 on a good note. Analysts are expecting earnings per share of $0.55 on $1.87 billion in revenue, according Estimize consensus data.