Homebuilders welcome more good Q4 results

|By:, SA News Editor

Another pair of big Q4 results from the homebuilders - today Pulte and Ryland - has the entire sector on the move. ITB +1.5%, XHB +1.1%.

Yes, mortgage rates put a crimp in sales, but higher prices more than made up for the difference, and D.R. Horton management suggests the sales pace has picked back up in January. Pulte reported new orders off 18% from a year ago, but the value of orders barely fell. Closings in Q4 were down 4% from 2012, but revenues gained 9%.

Taylor Morrison (TMHC +0.2%), M.D.C. Holdings (MDC +1.2%), Standard Pacific (SPF +1.4%), KB Home (KBH +3.3%), Hovanian (HOV +0.8%), Toll Brothers (TOL +0.9%)