Oct. New Home Sales at458K vs. 471K Expected; Up 0.7% vs 0.8% Expected
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Oct. New Home Sales 458K vs 471K Expected, 0.7% vs 0.8% Expected
UPDATE - More from the U.S. Census Bureau:
Sales of new single-family houses in October 2014 were at a seasonally adjusted annual rate of 458,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.7 percent (±16.5%)* above the revised September rate of 455,000 and is 1.8 percent (±17.4%)* above the October 2013 estimate of 450,000.
The median sales price of new houses sold in October 2014 was $305,000; the average sales price was $401,100. The seasonally adjusted estimate of new houses for sale at the end of October was 212,000. This represents a supply of 5.6 months at the current sales rate.
Traders are watching the following stocks and ETFs:
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)
Beazer Homes USA, Inc. (NYSE: BZH)
SPDR S&P Homebuilders ETF (NYSE: XHB)
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