While April's surprising 5.5% decline in pending home sales is nothing to celebrate,...

|By:, SA News Editor

While April's surprising 5.5% decline in pending home sales is nothing to celebrate, MKM Partners finds it consistent with its view of a choppy early-stage housing recovery, and isn't overly concerned that a recovery is at risk. The firm sticks with its call to buy homebuilder stocks (XHB -3.7%) such as Toll Brothers (TOL -5.8%) and Pulte (PHM -4.1%) on dips.