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April new home sales at a seasonally adjusted annualized rate of 619K were a full 16.6% above the upwardly revised March print, and 23.8% higher than year-ago levels. The number also flew past expectations for just a 2% rise to 523K.
- Sales in the Northeast of 55K gained from 36K in March; Midwest of 60K down from 63K; South of 352K vs. 304K; West of 152K vs. 128K.
- Full report
- Tossing this bit of information in with strong FQ2 earnings from Toll Brothers (TOL +6.4%) has the homeowners (ITB +2.7%) surging well ahead of the market averages.
- Hovnanian (HOV +4.9%), KB Home (KBH +3.8%), Beazer (BZH +5.4%), Lennar (LEN +3.2%), Pulte (PHM +3.1%), D.R. Horton (DHI +3.3%)