|Bid||42.93 x 900|
|Ask||42.94 x 300|
|Day's range||42.62 - 43.03|
|52-week range||26.69 - 43.03|
|PE ratio (TTM)||16.07|
|Forward Dividend & Yield||0.40 (1.06%)|
|1y target est||N/A|
Despite a stalled housing market, homebuilders D R Horton (DHI), KB Home (KBH), Lennar (LEN), Pulte Group (PHM) and Toll Brothers (TOL) are solidly in bull market territory vs. their post-election lows, but three of the five are in bear market territory since their mid-2005 all-time intraday highs.
WASHINGTON, Oct (Shenzhen: 000069.SZ - news) 18 (Reuters) - U.S. homebuilding fell to a one-year low in September as Hurricanes Harvey and Irma disrupted the construction of single-family homes in the South, suggesting housing probably remained a drag on economic growth in the third quarter. The report on Wednesday from the Commerce Department also showed a decline in building permits, raising concerns that the housing market recovery was stalling. Homebuilding and sales are well below their peaks before the housing bubble burst in 2006.
Zacks Industry Outlook Highlights: Lennar, KB Home, D.R. Horton, Toll Brothers and Century Communities
Zacks Industry Outlook Highlights: D.R. Horton, Lennar, PulteGroup, KB Home and Toll Brothers
Millennials are finally seeing the light and are emerging from their parents’ basements, or perhaps are realizing that building equity by buying a property is a better option than renting. To be sure, millennials show less interest in real estate than prior generations, partly because the global financial crisis made them question home ownership as an investment, and partly because they are more likely than their immediate forebears to postpone marriage and a family, suppressing household formations. The average age of a first-time homebuyer is 33, according to real-estate marketplace Zillow, and the oldest millennials are now reaching this point in life, while the largest segment of the cohort is in the 20-25 bracket, suggesting years of demand ahead.
D.R. Horton (DHI) closes Forestar buyout, which would give the company a meaningful percentage boost to its current land holdings.
The housing market has been rallying nicely since housing prices bottomed in late 2011. It is important to keep in mind that the housing bubble (from the early 2000's) helped create the 2008-2009 financial crisis and the housing market has been slowly recovering every since.
U.S. homebuilder Lennar reported a 5.6 percent rise in quarterly profit on Tuesday, driven by an increase in home sales and higher prices.
U.S. homebuilding fell for a second straight month in August as a rebound in the construction of single-family houses was offset by persistent weakness in the volatile multifamily home segment. The report from the Commerce Department on Tuesday also showed building permits racing to a seven-month high in August. Homebuilding has been treading water for much of this year amid shortages of land and skilled labor as well as rising costs of building materials.
U.S. home resales unexpectedly fell in July to an 11-month low as a chronic shortage of properties boosted prices, the latest sign that the housing market recovery was slowing. The cooling in housing activity reflects supply constraints rather than ebbing demand, which is being driven by a strong labor market. Other data on Thursday showed a slight increase in the number of people filing for unemployment benefits last week.
U.S. homebuilding unexpectedly fell in July as the construction of multi-family houses tumbled to a 10-month low, but strong job growth is expected to continue to support the housing market recovery. Housing starts declined 4.8 percent to a seasonally adjusted annual rate of 1.16 million units, hurt also by a drop in groundbreaking on single-family projects, the Commerce Department said on Wednesday.
Recent weakness in stocks, including Lowe's, Home Depot and Whirlpool, may be a sign that the record housing prices and real estate boom can't last.
U.S. homebuilding fell for a third straight month in May to the lowest level in eight months as construction activity declined broadly, suggesting that housing could be a drag on economic growth in the second quarter. Housing starts weakened despite a dearth of properties on the market, which is hurting sales and boosting prices. "The recent stall in homebuilding is bad news for growth," said Gus Faucher, chief economist at PNC Financial in Pittsburgh.
The largest generation is finally starting to buy houses. The trouble is, there aren't enough houses for sale to feed their appetite.
The National Association of Realtors' report on Wednesday came as the labor market nears full employment and investors wait for the Trump administration to act on its promises to cut taxes, increase infrastructure spending and reduce regulations. "Existing home sales continue to shine and this bodes well for consumer spending which helps the economy go. Team Trump is trying to boost economic growth and today's existing home sales will make the job a little easier," said Chris Rupkey, chief economist at MUFG Union Bank in New York.
U.S. homebuilding fell in January as the construction of multi-family housing projects dropped, but upward revisions to the prior month's data and a jump in permits to a one-year high suggested the housing recovery remained on track. Factory activity in the mid-Atlantic region vaulted to a 33-year high in February and the number of new applications for unemployment benefits was less than expected last week. "There is not much to complain about the economy as housing and manufacturing are improving and the labor market remains tight.
Housing stocks are on a tear so far this year and could see further upside should the group break a critical technical level.