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.
M.D.C. Holdings, Inc. (NYSE: MDC) shares traded in the range of $29.05 to $30.25 Tuesday before settling to close at $29.95, an increase of 3.31 percent. The stock appears to be facing some resistance at the $30.38 and $31.27 levels with some support at $29.38. Shares of M.D.C. Holdings have fallen approximately 18.0 percent in 2013.
More information on M.D.C. Holdings and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MDC
M/I Homes Inc. (NYSE: MHO) shares traded in the range of $18.83 to $19.87 Tuesday before settling to close at $19.84, an increase of 5.81 percent. The stock appears to be facing some resistance at the $19.84 and $20.27 levels with some support at $19.21. Shares of M/I Homes have fallen approximately 25.0 percent in 2013.
More information on M/I Homes and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MHO
Meritage Homes Corp. (NYSE: MTH) shares traded in the range of $42.71 to $43.69 Tuesday before settling to close at $43.47, an increase of 2.48 percent. The stock appears to be facing resistance at the $43.33 and $43.91 levels with some support at $42.35. Shares of Meritage Homes have gained approximately 16.0 percent in 2013.
More information on Meritage Homes and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MTH
The Ryland Group, Inc. (NYSE: RYL) shares traded in the range of $38.85 to $40.33 Tuesday before settling to close at $40.30, an increase of 3.79 percent. The stock appears to be facing some resistance at the $40.31 and $41.19 levels with some support at $39.49. Shares of Ryland Group have gained approximately 10.0 percent in 2013.
More information on Ryland Group and access to the free equity report can be found at:
www.WallStreetFundamentals.com/RYL
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