U.S. Homebuilders Trending Upwards as Housing Prices on the Rise

NEW YORK, NY / ACCESSWIRE / June 21, 2016 / RDInvesting.com – U.S. homebuilders have been lifted by recent data showing U.S. home prices are on the rise. The SPDR S&P Homebuilders ETF (NYSE ARCA: XHB) has gained approximately 1.5 percent in the month of May. The S&P/Case-Shiller U.S. National Home Price Index, which tracks the entire nation, spiked 5.2 percent to a reading of 176.91 in March when compared to a 168.24 reading in March 2015. Register with us now for your free membership and gain access to our homebuilder’s reports at: http://rdinvesting.com/subscribe.

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KBH, LEN and TOL click here.

“The economy is supporting the price increases with improving labor markets, falling unemployment rates and extremely low mortgage rates,” said David Blitzer, managing director at S&P Dow Jones Indices.

Additionally, the Commerce Department reported U.S. new-home sales surged 16.6 percent in April from a month ago to a seasonally adjusted annual rate of 619,000, which was the fastest pace seen in 8 years.

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Let’s take a closer
look at some U.S. homebuilders:

KB Home (NYSE:
KBH) shares gained 1.54 percent to close at $14.49 a share Monday. The stock traded between $14.46 and $14.75 on volume of 2.6 million shares traded. The stock appears to be facing some resistance at $14.46 and $14.67 with some support at $13.98 and $13.67. The company reported revenues were $678.4 million for the first quarter ended February 29th, 2016, an increase of 17.0 percent when compared to revenues of $580.1 million for first quarter of 2015. Shares of KB Home have gained approximately 17.5 percent year-to-date and are up roughly 12.2 percent in the past month.

Lennar Corporation (NYSE: LEN) shares increased 1.00 percent to close at $46.66 a share Monday. The stock traded between $46.65 and $47.35 on volume of 2.4 million shares traded. The stock appears to be facing some resistance at $46.59 and $47.35 with some support at $45.74 and $43.73. The company reported revenues were $2.0 billion for the first quarter ended February 29th, 2016, an increase of 21.0 percent when compared to revenues of $1.6 billion in the first quarter of 2015. Shares of Lennar have fallen approximately 4.6 percent year-to-date and are up roughly 5.3 percent in the past month.

Toll Brothers Inc. (NYSE: TOL) shares declined 0.14 percent to close at $27.76 a share Monday. The stock traded between $27.74 and $28.43 on volume of 1.8 million shares traded. The stock appears to be facing some resistance at $28.59 and $29.83 with some support at $27.65 and $26.48. The company reported revenues of $1.12 billion for the fiscal second quarter ended April 30th, 2016, an increase of 31.0 percent when compared to revenues of $852.6 million in the second-quarter of fiscal 2015. Shares of Toll Brothers have fallen approximately 16.6 percent year-to-date and are up roughly 0.7 percent in the past month.

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