The confidence gauge among home builders regarding present and future single family home sales rose two points to 55 in August. Readings over the 50 mark show an optimistic outlook regarding sales trends, Market Watch reported.
"Factors contributing to this rise include sustained job growth, historically low mortgage rates and affordable home prices, which are helping to unleash pent-up demand," said the National Association of Home Builders chief economist, Market Watch added.
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Other home builder stocks rising today include KB Home (KBH) , up 2.33% to $17.10, Lennar Corp. (LEN) , higher by 1.76% to $37.59, and M.D.C. Holdings Inc. (MDC) up 2.32% to $28.17.
Separately, TheStreet Ratings team rates M/I HOMES INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate M/I HOMES INC (MHO) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and poor profit margins."