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Home builders add to yesterday's rally sparked by optimistic talk from Hovnanian (HOV +10.2%)...

  • Thursday, March 8, 2012, 2:08 PM ET
    Home builders add to yesterday's rally sparked by optimistic talk from Hovnanian (HOV +10.2%) that spring selling is off to a strong start, with 38% Y/Y growth in net contracts and home prices remaining relatively stable. Builders KBH +5.7%, LEN +4.8%, PHM +4.8%. Retailers HD +1%, LOW +1.5%. But James Brumley cautions: Is the industry getting better, or just not getting any worse?
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    The simple and obvious point here is that the housing business is the last sector standing that has not participated in this recovery, so it has to be expected that it is their time.

    Its also the canary in the coal mine for what comes later, but that is probably still going to happen no earlier than 2013.
    9 Mar 2012, 09:07 AM Reply Like
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