This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Existing Home Sales Grow 3.6% in June

Is it time to raise the roof? Or at least put a new one on your home and put it up for sale?

In yet another sign the housing recovery might indeed be underway, existing home sales were better-than-expected in June sending shares of homebuilders into the green Thursday morning.

The National Association of Realtors reported sales of previously occupied homes rose 3.6% in June to 4.89 million. Analysts had expected sales of 4.84 million units.

This is the second day homebuilders saw some gains. On Wednesday, NVR's better-than-expected earnings report drove up the sector.

Shares of Toll Brothers (TOL - Get Report) jumped 3% to $18.45, NVR grew 3% to $601.47, Pulte Homes (PHM - Get Report) rose 4.5% to $9.79, KB Home (KBH) increased 6% to $15.89, Lennar (LEN - Get Report) spiked 6% to $11.27 and Centex (CTX) shot up 5% t5o $9.49.

Copyright 2009 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
CTX $26.25 -0.38%
LEN $46.37 -1.74%
NVR $1,339.02 -0.45%
PHM $19.87 -1.24%
TOL $36.71 -0.24%


DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs