Posts for Ticker ‘HXB’

Cheering Poor New Home Sales (XHB)

Burning House ImageThe data on new home sales for the month of May is going to be a disappointment even for the green shoots crowd, at least on the surface.  Sales of new homes in May fell by 0.6% to 342,000 on an annualized rate.  Dow Jones had estimates calling for a 2% gain to 360,000.  The numbers in April were revised to 344,000 from a prior target of 352,000.

The SPDR S&P Homebuilders (NYSE: XHB) is now up 2.4% at $11.54. It looks like if this is bad news for the homebuilders and appears to be at least close enough or in-line with what the green shoots crowd was willing to accept.
Read More »

Posted on: June 24, 2009 – 9:14 am in Economy, Housing,

Some Relief In Homebuilder Data (XHB)

The National Association of Home Builders monthly index for this month took a huge leap from 9 to 14 to get the index out of single digit territory and at a 6-month high.  The bad news is that the reading for “equilibrium” between growth and contraction is 50.  So this is far from good news.  There are still many issues and many issues have created this “bounce” data.  The SPDR S&P Homebuilders (NYSE: XHB) ETF is up 5% at $12.15 today, but be advised that this has actually come off of highs from right before the NAHB data was released.

Read More »

Posted on: April 15, 2009 – 12:22 pm in ETF, Economy, Housing,

Toll CEO Unloads Even More Stock (TOL, XHB)

burning-house-imageToll Brothers Inc. (NYSE: TOL) has submitted two different filings showing that CEO Robert Toll unloaded 1 million shares this week.
Read More »

Posted on: March 19, 2009 – 11:39 am in Housing, Insider Activity, ,

Housing Stocks…Ignoring Poor Housing Data (HXB, PHM, DHI)

The National Association of Realtors monthly Pending Home Sales Index for August came in at 85.5, Month on Month -6.5%, and Year over Year -21.5%.

This is perhaps the worst data on recent record, but it is worth keeping in mind that this data is August and before the FOMC rate cut.  It was also during the worst mortgage month when every single headline was revolving around headlines and story lines saying "billions of dollars lost here" and "billions of dollars lost there" were on every television station (while "Flip That House" versions were still running rampant on TV).

The SPDR Homebuilders ETF (AMEX:XHB) is up almost 5% today at $23.20 and the ETF did maintain its strength after these numbers came out.  Citigroup’s upgrade for a trade yesterday is turning out to be quite a call. The XHB ETF closed Friday at $21.40, almost an 8.4% gain in two days.

Of the largest homebuilders, it looks like a 7% gain in DR Horton (NYSE:DHI) and in Pulte Homes (NYSE:PHM) are leading the pack. 

Jon C. Ogg
October 2, 2007

Posted on: October 2, 2007 – 9:27 am in Housing, , , , ,