U.S. Homebuilders Rally Continues in 2013 as Home Sales and Prices on the Rise
Five Star Equities Provides Stock Research on KB Home and Hovnanian Enterprises
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 02/27/13 -- The U.S. homebuilders' rally has continued into 2013 as data supporting a recovery in the U.S. housing market keeps rolling in. Shares of home builders were sent surging Tuesday after two separate reports showed improvements in U.S. home prices and sales. Five Star Equities examines the outlook for companies in the Residential Construction Industry and provides equity research on KB Home (NYSE: KBH) and Hovnanian Enterprises, Inc. (NYSE: HOV).
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U.S. new home sales reached a 4 and 1/2 year high in January. The Commerce Department on Tuesday reported new-home sales increased 16 percent in January, the largest jump in nearly two decades, to a seasonally adjusted annual rate of 437,000. Additionally the Standard & Poor's/Case-Shiller 20-city home price index, which was also released Tuesday, posted a year-over-year increase of 6.8 percent in December. According to the report home prices nationwide increased 7.3 percent last year.
"Since most people have their wealth tied up in their home, rising home prices make consumers more confident, more credit worthy and more willing to spend acquired income," Dan Greenhaus, chief global strategist at BTIG LLC, stated in an email.
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Shares of KB Home have gained over 60 percent year-to-date. The company recently acquired 34 acres of land along the IH-35 corridor northeast of San Antonio in Live Oak, Texas. The site will be home to the company's new community, Ironwood at Crestway. KB Home is scheduled to release results for the fiscal first quarter on Friday, March 22nd.
Shares of Hovnanian Enterprises have more than doubled over the past year. The company reported total revenues of $1.5 billion for the fiscal year 2012, an increase of 30.9 percent when compared the all of fiscal 2011. Hovnanian Enterprises is scheduled to release results for the fiscal first quarter on Wednesday, March 6th.
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Datum: 27.02.2013 - 07:20 Uhr
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