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Housing Stocks Up On Pending Sales Report

Shares of D.R. Horton Inc. rose 45 cents, or 3.7 percent, to $12.65; Lennar Corp. added 77 cents, or 4.1 percent, to $19.75; PulteGroup Inc. gained 28 cents, or 4.8 percent, to $6.24; KB Home rose 20 cents, or 3.2 percent, to $6.54; Beazer Homes USA Inc. added 10 cents, or 4.4 percent, to $2.39; and, Toll Brothers Inc. gained 53 cents, or 2.7 percent, to $20.38.

Elsewhere among homebuilders, NVR Inc. rose $14.87, or 2.2 percent, to $681; Standard Pacific Corp. gained 12 cents, or 3.8 percent, to $3.16; Meritage Homes Corp. added 71 cents, or 3.2 percent, to $23.07; MDC Holdings Inc. rose 71 cents, or 4.2 percent, to $17.64; Ryland Group Inc. added 35 cents, or 2.3 percent, to $15.54; and M/I Homes Inc. gained 65 cents, or 6.8 percent, to $10.23.

Lenders such as Bank of America Corp., Huntington Bancshares Inc. and Wells Fargo & Co. also got a boost.

Shares of Bank of America rose 11 cents, or 2.1 percent, to $5.40; Huntington added 16 cents, or 2.8 percent, to $5.63; and, Wells Fargo gained 55 cents, or 2 percent, to $27.66.

Meanwhile, home improvement and construction materials company Masco Corp.'s shares were up 54 cents, 5.5 percent, to $10.41.

The Dow Jones industrial average gained about 108 points in afternoon trading, and broader indexes also increased.

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 This material may not be published, broadcast, rewritten or redistributed.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