Homebuilder Stocks Snapshot: BZH, KBH, PHM, TOL
Category: Investment, Homebuilder
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New York, New York - September 20, 2012 (Investorideas.com newswire, www.homebuilderstocks.com) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research including homebuilder stocks issues a sector snapshot for the sector.
Yesterday NAHB (http://www.nahb.org) reported that Nationwide housing production rose 2.3 percent to a seasonally adjusted annual rate of 750,000 units in August, according to newly released figures from HUD and the U.S. Census Bureau. This increase was fueled entirely by gains in the single-family sector, where the pace of new construction rose in every region for a combined 5.5 percent gain to 535,000 units.
"Builders across the country have been reporting noticeable improvement in the number of serious buyers who are in the market for a new home, and today's report shows that this is translating to some welcome gains in construction activity," said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. "While there is still plenty of room for improvement, it's encouraging to see this continuing trend that is spurring much-needed job growth." For every 100 new single-family homes that are built, 300 new jobs are created, he noted.
Beazer Homes USA Inc. (NYSE:BZH) is trading at $3.80, up 0.05 or 1.33% as of 10:48AM EDT on over 1.8 Million shares.
KB Home (NYSE:KBH) is trading at $13.10, currently down 0.06 or 0.42% as of 10:52AM EDT on over 2.2 Million shares. The stock traded as high as $13.20 in earlier trading.
PulteGroup, Inc. (NYSE:PHM) is trading at $16.44, down 0.01 or 0.06% as of 10:54AM EDT on over 6 Million shares. The stock was up in earlier trading with a high of $16.55.
Toll Brothers Inc. (NYSE:TOL) is trading down slightly at $ 36.40, down 0.01 or 0.04% as of 10:55AM EDT, with a morning high of $36.63.
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