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Everything to do with homebuilding moves up today on September's housing data surge: Hovanian...

Everything to do with homebuilding moves up today on September's housing data surge: Hovanian (HOV +9.5%), KB Home (KBH +8.3%), Toll Bros. (TOL +2.5%), Ryland (RYL +4.4%), Standard Pacific (SPF +3.8%) and Meritage Homes (MTH +3.4%) all trade higher, as well as makers of fixtures like faucets and cabinets: Masco (MAS +1.4%), Fortune Brands Home & Security (FBHS +3%) and American Woodmark (AMWD +3%).
Comments (1)
  • These builders will be fun to short. Last week they jumped on weekly mortgage apps increase. Today mortgage apps tanked, but starts were better. The builders can start new construction, but if mortgage apps are down, maybe those new homes aren't selling? Wait for earnings next week and then a few days treading water. When they go down it will be hard and fast.
    17 Oct 2012, 03:24 PM Reply Like
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