Shares of home builders, home-improvement retailers and home-furnishers were all up on Thursday, following some good news in the sector.

Despite

widening its loss in the second quarter

, home builder

Lennar

(LEN) - Get Report

reported some promising data Thursday morning.

The company posted a 47% increase in sales of completed homes and 63% jump in orders from the first quarter. Lennar also saw a 15% cancellation rate, smaller than the 22% rate in the year prior.

Revenue declined to $891.9 million, from $1.13 billion last year, but Lennar still managed to beat Wall Street's estimate of revenue of $597.5 million.

Shares of Lennar soared 17% to $9.12 in afternoon trading, and shares of other home builders followed suit.

Centex

(CTX)

grew 6.5% to $8.64,

KB Home

(KBH) - Get Report

spiked 8% to $14.73,

Toll Brothers

(TOL) - Get Report

grew 5% to $17.06 and

Pulte Homes

(PHM) - Get Report

was up 6% to $9.

The momentum trickled down to home furnishers and home-improvement retailers.

Bed Bath & Beyond

(BBBY) - Get Report

skyrocketed 10% to $31.30 in afternoon trading, a day after reporting an

unexpected gain in first-quarter earnings

.

Home Depot

(HD) - Get Report

grew 4% to $23.59, while rival

Lowe's

(LOW) - Get Report

also bumped up 4% to $18.86.

J.P. Morgan analyst Christopher Horvers said in a note on Thursday that both retailers are on solid ground going forward. Home Depot is working on improving its merchandise, systems and supply chain, while Lowe's is focused on fine-tuning its model.

But how long will this winning street last? Only yesterday the Commerce Department announced that new home sales in the United States slipped .6% in May to 342,000, falling short of economists' forecast. And

sales of previously owned homes

rose 2.4%, but also missed expectations.

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