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Pending Sales Of U.S Home Sales Climbed More Than Forecast-Bloomberg

|Includes: Lennar Corporation (LEN)

There were positive signs in the data for pending sales of U.S. homes and durable good orders, which are a welcome relief from the recent data which has been quite poor. There is no doubt that if the U.S. economy is to outperform expectations housing will be a key cog in doing so. Sentiment amongst homebuilders has continuously been improving and Lennar (NYSE:LEN) posted very strong earnings today to reflect that confidence.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.