Homebuilders Rise on Pending Home Sales Data

November 29, 2012 10:05 AM EST
Homebuilders are on watch following much-better-than-expected Pending Home sales number. Pending home sales rose 5.2%, versus an expected 1% rise.

Immediately following the data print, shares of PulteGroup (NYSE: PHM), Toll Brothers (NYSE: TOL), Hovnanian Enterprises (NYSE: HOV), DH Horton (NYSE: DHI), Beazer Homes (NYSE: BZH), Lennar (NYSE: LEN), and KB Home (NYSE: KBH) all rose. Sector ETF, SPDR S&P Homebuilders (NYSE: XHB), is up 0.7%.

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