Tim Anderson, managing director at TJM Investments, discussed what he thinks the U.S. existing home sales numbers mean for the home building stocks as they prep to release earnings.
When U.S. existing home sales numbers--4.94 million units--were released Thursday, Feb. 21, they fell short of the 5 million units that analysts expected.
Two companies that have their hands in the home building space, Toll Brothers, Home Depot, and Lowe's are expected to report earnings next week.
Home Depot (HD) is expected to report earnings before the bell Tuesday, Feb. 26. Toll Brothers (TOL) is expected to report earnings before the bell Wednesday, Feb. 27 and Lowe's (LOW) is expected to report earnings after the bell Wednesday.