Homebuilders Rise as Housing Starts Show Positive Growth M/M (DHI, TOL, XHB)

Reports that November housing starts were inline at 574K and building permits were better-than-expected at 584K have homebuilding stocks moving higher today.

Single-family housing starts in November compared to October 2009 rose 2.1% to 482,000.

Housing starts were down 12.4% from November 2008, in the heat of the financial meltdown.

Stocks and ETFs that are moving on the news:

• SPDR S&P Homebuilders (NYSE: XHB) up 1.98% to $14.96;
  
  
• Pulte Homes (NYSE: PHM) up 5.51% to $9.38;
  
  
• D.R. Horton (NYSE: DHI) up 4.69% to $10.27;
  
  
• Toll Brother (NYSE: TOL) up 3.02% to $18.44;
  
  
• PowerShares Dynamic Building & Construct (NYSE: PKB) (ETF) up 1.84% to $11.97.

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