There is only one buy-rated home builder according to ValuEngine and that's PulteGroup (PHM - Get Report) ($18.59), which mirrors the performance of the housing index. Pulte has a weekly value level at $17.92 with a quarterly pivot at $19.37 and monthly risky level at $21.69.
Recent housing data has been positive including, the National Association of Home Builders Housing Market Index, which rose by eight points to 52 in June, above the neutral 50 mark for the first time since April 2006. The NAHB projects that total housing starts would top the million mark this year for the first time since 2007. This progress has been trumped by the higher interest rates.
It appears that investors like bank stocks, both big and small in this higher yield environment.
America's Community Bankers Index
(ABAQ) (210.96) set a new multi-year high at 210.96 on July 5 and is now up 23.6% year-to-date. Even a better performance has been logged in by the
PHLX KBW Banking Index
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