NEW YORK ( TheStreet) -- Homebuilding remains an important component of an economic recovery. Before Tuesday's strong rebound the 11 homebuilder stocks I have been tracking were down between 7.3% and 26.6% since May 28. Beazer Homes (BZH - Get Report) which was upgraded to hold and had a one-month gain with a six-month loss. Ryland Group (RYL - Get Report) was down for the month.On Tuesday, ValuEngine upgraded four names to hold from buy and one from strong sell to sell. Homebuilders rebounded on a stronger than expected reading for building permits in September and October and on higher prices that were reported in the S&P/Case-Shiller Home Price indices. Following Tuesday's rally the six month declines were cut to between 4.1% and 23.1%.
Homebuilders Rebound On Permits and Higher Home Prices
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