Residential Construction
(BZH) Stock Market News for December 30, 2011 – Market News
Better housing data and a drop in four-week moving average of initial claims joined hands to guide the benchmarks higher yesterday, providing investors another hope that S&P 500 might just end 2011 on a positive note. With yesterday’s gains, the Dow washed out the losses...
3Jan2012 | vitalstocks | 0 comments | Continued(TOL) Toll Brothers Takes Over CamWest
Toll Brothers Inc. (TOL) recently announced that it has acquired CamWest Development LLC. The company did not disclose the financial terms of the deal but stated that it will start reaping benefits from the acquisition in the upcoming year. CamWest is considered as one of the...
23Nov2011 | vitalstocks | 0 comments | Continued(DHI) U.S. Housing Starts Slip Less Than Expected
We got some fairly good news on the housing front this morning. Housing Starts fell in September to a seasonally-adjusted annual rate of 628,000 from 630,000 in August, a drop of 0.3%. But the number was much better than the expected level of 603,000. However, the September numbers...
21Nov2011 | vitalstocks | 0 comments | Continued(DHI) Weakness Prevails in U.S. Housing
The weaknesses prevailing in the housing and construction industry in the U.S. have once again come to the fore as the National Association of Home Builders lowered its September outlook. Poor employment growth, increased availability of foreclosed homes, strict mortgage lending...
6Oct2011 | vitalstocks | 0 comments | Continued(DHI) U.S. New Home Sales Move Down Slightly
New Home Sales in August fell by 2.3% from July to a rate of 295,000. Relative to a year ago, sales are up 6.1%. While the year-over-year rebound is more than welcome, it is still a very dismal rate of new home sales. However, there was an upward revision to the July numbers...
27Sep2011 | vitalstocks | 0 comments | Continued(DHI) U.S. Housing Starts Down – Permits Up
Housing Starts fell in August to a seasonally adjusted annual rate of 571,000 from 601,000 in July, a decrease of 5.0%. However, the July numbers were revised lower from 604,000, so it is possible to see the decrease as 34,000, or 5.5%. The number was also slightly below the...
21Sep2011 | vitalstocks | 0 comments | Continued(TOL) Toll Brothers Misses Profit Estimate
Toll Brothers Inc. (TOL) reported a net income of $42.1 million or 25 cents per share during the third quarter of fiscal 2011 compared with a net income of $27.3 million or 16 cents per share in the year-ago quarter. Reported income in the 2011 quarter included a tax benefit...
26Aug2011 | vitalstocks | 0 comments | Continued(DHI) U.S. New Home Sales Still Awful
New Home Sales in May fell by 1.0% from May, to a rate of 312,000. Relative to a year ago, sales are up 1.6%. While the rebound is more than welcome, it is still a very dismal rate of New Home sales. Also, there was a downward revision to the May numbers of 4,000 to 315,000....
31Jul2011 | vitalstocks | 0 comments | Continued(DHI) U.S. Housing Starts and Building Permits Rise
Housing Starts rose in June to a seasonally-adjusted annual rate of 629,000 from 549,000 in May, an increase of 14.6%. However, the May numbers were revised lower from 560,000, so it is possible to see the increase as 69,000, or 12.3%. Relative to a year ago they are up 11.8%. Quite...
20Jul2011 | vitalstocks | 0 comments | Continued(LEN) Lennar Buys Distressed Debt
Lennar Corp. (LEN) recently acquired the distressed debt on the Century Grand project in Doral through one of its affiliates named Flordade LLC. State. The mortgaged property, which was purchased for an undisclosed sum, spans almost 153 acres of the Century Grand project. Before...
8Jul2011 | vitalstocks | 0 comments | Continued(KBH) KB Home’s Loss Widens
KB Home (KBH) reported a net loss of $68.5 million or 89 cents per share in the second quarter of fiscal 2011, compared with a net loss of $30.7 million or 40 cents per share a year ago. However, excluding inventory impairments and land option contract abandonment charges of...
29Jun2011 | vitalstocks | 0 comments | Continued(KBH) KB Home Second Quarter 2011 Earnings Preview
KB Home (KBH) is scheduled to release its second quarter 2011 results before the market opens on June 29, 2011. Los Angeles, California-based KB Home realized a loss of 49 cents per share in the first quarter, which is wider than the Zacks Consensus Estimate of a loss of 27 cents...
29Jun2011 | vitalstocks | 0 comments | Continued(TOL) Toll Brothers Faces Rating Cut
Toll Brothers Inc. (TOL) has been recently downgraded by Standard & Poor’s Rating Services to a “BB-plus” status from a prior “BBB-minus.” The cut in corporate credit rating implies the company’s weak prospects in the near term. The housing market...
29Jun2011 | vitalstocks | 0 comments | Continued(TOL) U.S. Housing: Past and Future
I recently came across this piece written by Larry Kudlow, the host of two shows on CNBC. It is from June 20, 2005: “Homebuilders led the stock parade this week with a fantastic 11 percent gain. This is a group that hedge funds and bubbleheads love to hate. All the bond bears...
28Jun2011 | vitalstocks | 0 comments | Continued(LEN) Lennar’s Second Quarter Beats Estimates
Lennar Corporation (LEN) reported net earnings of $13.8 million or 7 cents per share in the second quarter of fiscal 2011 ended May 31, 2011, compared with $28.7 million or 15 cents per share in the year-ago quarter. Reported earnings were higher than the Zacks Consensus Estimate...
23Jun2011 | vitalstocks | 0 comments | Continued(DHI) New Homes Sales Down Less than Expected
New Home Sales in May fell by 2.1% from April, to a rate of 319,000. Relative to a year ago, sales are up 13.5%. While the rebound is more than welcome, it is still a very dismal rate of New Home sales. Offsetting the decline was an upward revision to the April numbers of 3,000...
23Jun2011 | vitalstocks | 0 comments | Continued(LEN) Lennar Second Quarter 2011 Earnings Preview
Lennar Corp. (LEN) announced that it will release its second quarter 2011 results before the market opens on June 23, 2011. Miami, Florida-based Lennar Corp. earned a profit of 14 cents per share in the first quarter, comprehensively beating the Zacks Consensus Estimate of a...
22Jun2011 | vitalstocks | 0 comments | Continued(BZH) Homebuilders Settle Land Dispute
Three of the largest homebuilders in the U.S., including Beazer Homes USA Inc. (BZH), KB Home (KBH) and Toll Brothers Inc. (TOL), have decided to pay lenders up to $340 million to meet their claims and settle legal actions related to a failed housing development deal near Las...
20Jun2011 | vitalstocks | 0 comments | Continued(DHI) New Home Sales Report Up But Still Ugly
New Home Sales in April rose by 7.3% from April, to a rate of 323,000. Relative to a year ago, sales are down 23.1%. While the rebound is more than welcome, it is still a very dismal rate of New Home sales. In additional good news about the direction of new home sales, the March...
1Jun2011 | vitalstocks | 0 comments | Continued(DHI) U.S. Existing Home Sales Up in April
The existing home sales in the U.S. rose in April, marking the second consecutive month of improvement in previously owned homes. Total purchases of existing houses stood at a seasonally-adjusted annual rate of 5.2 million, up 2% from a seasonally-adjusted annual rate of 5.1...
20May2011 | vitalstocks | 0 comments | Continued(BZH) Stock Market News for May 4, 2011 – Market News
On Tuesday, markets felt the pinch of disappointing quarterly results and the benchmarks slid a few points as investors feared profitability might drop over the coming quarters. Over the past couple of weeks, markets have remained upbeat, climbing to multi-year highs following...
4May2011 | vitalstocks | 0 comments | Continued(DHI) Home Prices Still Falling
In February, home prices continued to slip, and the declines were widespread. The Case-Schiller Composite 10 City index (C-10) fell 0.23% on a seasonally adjusted basis, and is down 2.60% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10)...
1May2011 | vitalstocks | 0 comments | Continued(DHI) U.S. New Home Sales Better – Levels Are Still Bad
New Home Sales in March rose by 11.1% from March, to a rate of 300,000. Relative to a year ago, sales are down 21.9%. While the rebound is more than welcome, it is still a very dismal rate of new home sales. In additional good news about the direction of new home sales, the February...
26Apr2011 | vitalstocks | 0 comments | Continued(DHI) U.S. New Housing Starts and Permits Rise
Housing Starts rose in March to a seasonally adjusted annual rate of 549,000 from 512,000 in February, an increase of 7.2%. Also, the February numbers were revised sharply higher from 479,000, so it is possible to see the increase as 70,000, or 14.6%. Relative to a year ago they...
23Apr2011 | vitalstocks | 0 comments | Continued(KBH) Homes Crumble – Mortgage Applications Fall as Rates Rise
The rising mortgage rates in the U.S. have pulled down the total mortgage applications in the country, thereby discouraging home buyers. The 30-year fixed mortgage rate increased slightly to 4.93% from 4.92% in the last week, leading to a 2% drop in mortgage application on a...
10Apr2011 | vitalstocks | 0 comments | Continued(MTH) Meritage Homes Corporation Expands in Raleigh-Durham
Meritage Homes Corporation (MTH) wants to expand in the Raleigh-Durham market of North Carolina, so it recently purchased 46 one-acre home sites at the Inwood Forest community in south Raleigh The Raleigh-Cary and Durham-Chapel markets have been named the No. 1 and No. 3 healthiest...
7Apr2011 | vitalstocks | 0 comments | Continued(TOL) Toll Brothers and Deutsche Bank Buy Loans
Gibraltar Capital and Asset Management LLC, a wholly owned subsidiary of Toll Brothers Inc. (TOL) and Deutsche Bank (DB) together announced the closing of a private transaction with a large financial institution. The transaction involves the purchase of a portfolio consisting...
3Apr2011 | vitalstocks | 0 comments | Continued(DHI) U.S. Home Prices Keep Falling
In January, home prices continued to slip, although the declines were less widespread than in recent months. The Case-Schiller Composite 10 City index (C-10) fell 0.22% on a seasonally adjusted basis, and is down 2.03% from a year ago. The broader Composite 20 City index (which...
31Mar2011 | vitalstocks | 0 comments | Continued(DHI) U.S. Housing Industry Still Struggling
The prolonged weakness in the housing industry has extended up to February 2011. Housing starts fell 22.5% year over year to a seasonally-adjusted annual rate of 479,000 units in February, in contrary to an expectation of an improvement to 580,000 units. The drop in housing starts...
31Mar2011 | vitalstocks | 0 comments | Continued(DHI) U.S. Reports Record Low New Home Sales
New Home Sales in February fell by 16.9% from January to a dismal rate of 250,000. Relative to a year ago, sales are down 28.0%. In a very faint silver lining to an otherwise dismal report, the January rate was revised up to 301,000 from 284,000. Thus relative to where we thought...
29Mar2011 | vitalstocks | 0 comments | Continued