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Housing

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

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

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

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Jon C. Ogg |

When Builders Rise on Awful Housing Data (MTH, RYL, LEN, KBH, BZH, XHB)

Sometimes logic can’t be used when trading economic data and stocks.  The National Association Of Realtors report shows a drop…

Housing Companies Stand Strong Despite Big Construction Spending Disappointment
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Housing Companies Stand Strong Despite Big Construction Spending Disappointment

The Commerce Department reported that construction spending was down in June. What was surprising was that the key exchange traded…

What DR Horton Earnings Indicate About the Housing Market
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What DR Horton Earnings Indicate About the Housing Market

Homebuilder D.R. Horton reported first fiscal quarter earnings Friday morning that were below consensus estimates. Revenues were slightly above consensus.

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Lower Housing Prices Generating Much Higher Sales (XHB, ITB)

The Commerce Department’s data on new home sales did not just rise in June for a third straight month.  The…

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Case-Shiller Index Falls Again in Novemer

The monthly S&P/Case-Shiller Home Price Indices for the month of November were released this morning, and the results were worse…

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Notions of Housing Recovery Only Seem Relative To Price (XHB)

The Commerce Department data for April’s new home sales looks good on the surface, but there are perhaps more problems…

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Lowe’s & Home Depot Diverge As Homebuilder Proxy (LOW, HD, XHB, ITB, DHI, PHM, PMI)

Lowe’s Companies Inc. (NYSE: LOW) reported earnings on Monday morning ahead of the Tuesday report from The Home Depot, Inc.…

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Counter-Take: Should Housing Really Be Recovering Yet? (ITB, XHB, KBH, HOV, DRI, LEN, TOL)

This week is starting to look a bit different for housing and homebuilders and it is a serious matter in…

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Analyzing Lennar (LEN)

By Yaser Anwar, CSC of Equity Investment Ideas LEN reported that net income fell 73% to $68.6 million, 43 cents…

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