Homebuilders outperform after strong housing data

• New home sales flew past expectations in February, rising to a seasonally-adjusted annualized rate of 592K from 558K in January. Expectations were for 565K.
• The news is giving investors an excuse to buy the homebuilders (ITB, XHB) after about a four-day selloff.
• Toll Brothers (TOL +0.5%), Lennar (LEN +0.4%), Pulte (PHM +0.4%), KB Home (KBH +1.7%), D.R. Horton (DHI +0.9%)