Homebuilder’s slumped Monday after data showed sales of U.S. existing home sales dropped in September as a result of rising mortgage rates and prices. The SPDR S&P Homebuilders ETF (NYSEARCA: XHB) declined 0.77 percent and has fallen approximately 3.5 percent the past month. The National Association of Realtors reported existing-home sales in the U.S. fell 1.9 percent to a seasonally adjusted annual rate of 5.29 million. Existing home sales have increased 10.7 percent year-over-year, the smallest y-o-y increase in five months.
Beazer Homes USA, Inc. (NYSE: BZH) shares traded in the range of $18.38 to $19.22 Tuesday before settling to close at $19.09, an increase of 3.58 percent. The stock appears to be facing some resistance at the $18.94 and $19.68 levels with some support at $18.18. Shares of Beazer Homes have gained approximately 13.0 percent in 2013.
More information on Beazer Homes and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BZH
D.R. Horton, Inc. (NYSE: DHI) shares traded in the range of $18.77 to $19.34 Tuesday before settling to close at $19.23, an increase of 3.0 percent. The stock appears to be facing some resistance at the $19.41 and $20.01 levels with some support at $18.80. Shares of D.R. Horton have fallen approximately 3.0 percent in 2013.
More information on D.R. Horton and access to the free equity report can be found at:
www.WallStreetFundamentals.com/DHI
Hovnanian Enterprises, Inc. (NYSE: HOV) shares traded in the range of $5.08 to $5.22 Tuesday before settling to close at $5.18, an increase of 2.17 percent. The stock appears to be facing some resistance at the $5.21 and $5.36 levels with some support at $5.04. Shares of Hovnanian Enterprises have fallen approximately 26.0 percent in 2013.
More information on Hovnanian Enterprises and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HOV
Standard Pacific Corp. (NYSE: SPF) shares traded in the range of $7.64 to $7.88 Tuesday before settling to close at $7.88, an increase of 3.55 percent. The stock appears to be facing resistance at the $7.87 and $8.13 levels with some support at $7.60. Shares of Standard Pacific have gained approximately 7.0 percent in 2013.
More information on Standard Pacific and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SPF
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