Homebuilders on Watch as Starts Top 1 Million (XHB)
Traders have a keen eye on homebuilders and the homebuilder ETF (NYSE: XHB) after March housing starts topped the 1 million mark.
Housing starts for the month were 1.036 million versus an expected 930,000. This is 7.0 percent above the revised February estimate of 968,000 and is 46.7 percent above the March 2012 rate of 706,000.
Building permits were light at 902,000 versus an expected 942,000. This is 3.9 percent below the revised February rate of 939,000, but is 17.3 percent above the March 2012 estimate of 769,000.
Privately-owned housing completions in March were at a seasonally adjusted annual rate of 800,000. This is 11.0 percent above the revised February estimate of 721,000 and is 36.3 percent above the March 2012 rate of 587,000.
Stocks: KB Home (NYSE: KBH) PulteGroup (NYSE: PHM), Lennar (NYSE: LEN), Toll Brothers Inc. (NYSE: TOL).
Housing starts for the month were 1.036 million versus an expected 930,000. This is 7.0 percent above the revised February estimate of 968,000 and is 46.7 percent above the March 2012 rate of 706,000.
Building permits were light at 902,000 versus an expected 942,000. This is 3.9 percent below the revised February rate of 939,000, but is 17.3 percent above the March 2012 estimate of 769,000.
Privately-owned housing completions in March were at a seasonally adjusted annual rate of 800,000. This is 11.0 percent above the revised February estimate of 721,000 and is 36.3 percent above the March 2012 rate of 587,000.
Stocks: KB Home (NYSE: KBH) PulteGroup (NYSE: PHM), Lennar (NYSE: LEN), Toll Brothers Inc. (NYSE: TOL).
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