(Stock prices updated at the close of market.)
WASHINGTON, DC (TheStreet) -- There has been little talk of double-digit growth in any sector, let alone housing. But new home sales grew 11% in June, the Commerce Department said on Monday. The news sent shares of home builders climbing. Toll Brothers(TOL Quote) grew 1% to close at $19.29, Pulte Homes(PHM Quote) soared 9% to $10.59, Centex(CTX Quote) spiked 9% to end the day at $10.29, KB Home(KBH Quote) climbed 3% to $16.75 and Lennar (LEN Quote) shot up 7% to close at $11.87. New homes sales reached a seasonally adjusted rate of 384,000 units from 346,000 units in May, beating analysts' forecast of a pace of 360,000 units. This was the strongest pace since November 2008. Sale prices still remained weak, however, as the median price dropped 12% to $206,200 from $234,300 last year. The rate of new homes sales was just another piece of good news and added to the belief that the housing market is turning. Last week the National Association of Realtors said existing home sales grew 3.6% in June. --Reported by Jeanine Poggi in New York.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
-
Ore Increases Boost Steel Prices
The Wall Street Journal.
-
Greeks strike over austerity plan
BBC
-
Storm over bailout of Greece, EU's most ailing economy
Latest Business News from Times Online
-
Safety Agency Scrutinized as Toyota Recall Grows
New York Times
-
Long-Term Care Hospitals Face Little Scrutiny
New York Times
-
Paulson Tells Buffett Banks to Repay ‘Every Penny’ (Update2)
BusinessWeek Online
-
Tuesday Reads
The Big Picture
-
ESPN Plays Up Web for Live Sports
The Wall Street Journal.
-
Rail Traffic Flat in January Compared to 2009
Calculated Risk
-
China’s Imports Climb as Domestic Demand Aids Global Rebound
BusinessWeek Online
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 9,987.75 | 1,062.23 | 2,135.34 | 36.29 |
Oil *
71.25
|
|
DOWN
70.89
|
DOWN
8.29
|
DOWN
15.53
|
DOWN
0.04
|
10 Yr
3.63%
SPDR Gold
104.44
|
|
-0.70%
|
-0.77%
|
-0.72%
|
-0.11%
|
Data delayed 20 minutes |
More From TheStreet
Latest HeadlinesBrokerage Partners
Sponsored Links














