UPDATE: April New Home Sales 433K vs 425K Expected; Up 6.4% MoM vs 10.7%

(Updated - May 23, 2014 10:13 AM EDT)

(Updated - May 23, 2014 10:03 AM EDT)

April New Home Sales increased 433 thousand vs 425 thousand expected. Sales increased 6.4% month-over-month compared to a revised March total of 407 thousand.

Traders are watching the following stocks:

D.R. Horton, Inc. (NYSE: DHI)
Pulte Group (NYSE: PHM)
KB Home (NYSE: KBH)
Lennar Corp. Cl A (NYSE: LEN)
Hovnanian Enterprises Inc. Cl A (NYSE: HOV)
Standard Pacific Corp. (NYSE: SPF)
Toll Brothers, Inc. (NYSE: TOL)
Ryland Group, Inc. (NYSE: RYL)
Meritage Homes Corp. (NYSE: MTH)

SPDR S&P Homebuilders ETF (NYSE: XHB)

UPDATE - More from the Census press release:

Sales of new single-family houses in April 2014 were at a seasonally adjusted annual rate of 433,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.4 percent (±15.9%)* above the revised March rate of 407,000, but is 4.2 percent (±14.2%)* below the April 2013 estimate of 452,000.

The median sales price of new houses sold in April 2014 was $275,800; the average sales price was $320,100. The seasonally adjusted estimate of new houses for sale at the end of April was 192,000. This represents a supply of 5.3 months at the current sales rate.

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