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

Homebuilders' Shares Mostly Rise On Housing Data

In June, National Association of Home Builders Chief Economist David Crowe projected that single-family home construction will fall this year by 9 percent from last year to 431,000 â¿¿ the lowest level on records going back more than a half-century.

Even so, some homebuilders say customer traffic is improving heading into the fall.

On Monday, Lennar CEO Stuart Miller told analysts that his company is still seeing building strength, in terms of people coming in. He said that trend is generally upward.

However, the executive stressed that demand for new homes remains constrained by the availability of financing and weak consumer confidence.

Lennar shares surged on Monday, but were among the few homebuilding stocks on a slide in afternoon trading on Tuesday.

The Miami-based builder's shares were down 17 cents to $14.30.

M/I Homes Inc. also was trading lower, slipping 7 cents to $7.38.

KB Home was the biggest climber, with shares up 28 cents, or 4.6 percent, to $6.37.

Elsewhere in the sector, D.R. Horton rose 25 cents, or 2.6 percent, to $9.81; PulteGroup rose 15 cents, or 3.4 percent, to $4.53; Hovnanian Enterprises Inc. added 2 cents to $1.41; Beazer Homes USA Inc. gained a penny to $1.81; Toll Brothers rose 22 cents to $16.06; NVR Inc. added $5.89 to $648; Standard Pacific Corp. gained 2 cents to $2.49; Meritage Homes Corp. rose 17 cents to $17.36; MDC Holdings Inc. added 75 cents, or 4.2 percent, to $18.53; and The Ryland Group Inc. rose 29 cents, or 2.7 percent, to $11.23.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,043.20 -7.55 -0.04%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,822.7660 +11.9780 0.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs