Saturday, November 3, 2012

Homebuilders Jump On Wells Fargo Survey, 2012 Is Recovery Year

Homebuilder stocks were rallying this morning, outpacing the broader market’s gains following an upbeat Wells Fargo survey.

The survey, which polled managers in 20 major markets, found that sales rates are at their strongest levels since the firm began its survey in 2001. The company said that pricing last month�improved from February, and predicted that 2012 may finally be the recovery year for the housing sector.

Pulte Homes’ (PHM) lead the pack with a�9% jump. Hovnanian (HOV) added 6%,�Toll Brothers (TOL) was moving up 4%, �D.R. Horton (DHI)�gained 5.3% and KB Home (KBH) gained 5%.

No comments:

Post a Comment