The National Association of Home Builders/Wells Fargo housing-market index posted a 54 in November, any reading above 50 signals optimistic sales trends amongst builders. The reading matches a revised reading in October and breaks a streak of two consecutive months of declines. "The fact that builder confidence remains above 50 is an encouraging sign, considering the unresolved debt and federal budget issues cause builders and consumers to remain on the sideline," said David Crowe, NAHB’s chief economist. Here is how some homebuilders reacted Monday:
KB Home (NYSE: KBH) shares traded in the range of $16.59 to $17.04 Monday before settling to close at $316.68, a decrease 0.42 percent. The stock appears to be facing some resistance at the $16.81 and $17.38 levels with some support at $15.97. Shares of KB Home have gained approximately 5.0 percent in 2013.
More information on KB Home and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KBH
Lennar Corporation (NYSE: LEN) shares traded in the range of $34.29 to $35.15 Monday before settling to close at $34.52, an increase of 1.02 percent. The stock appears to be facing some resistance at the $36.62 and $37.47 levels with some support at $34.39. Shares of Lennar have fallen approximately 10.0 percent in 2013.
More information on Lennar and access to the free equity report can be found at:
www.WallStreetFundamentals.com/LEN
PulteGroup, Inc. (NYSE: PHM) shares traded in the range of $18.07 to $18.63 Monday before settling to close at $18.28, an increase of 0.99 percent. The stock appears to be facing some resistance at the $20.40 and $21.55 levels with some support at $18.07. Shares of PulteGroup have gained approximately 1.0 percent in 2013.
More information on PulteGroup and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PHM
Toll Brothers Inc. (NYSE: TOL) shares traded in the range of $33.02 to $33.92 Monday before settling to close at $33.21, a decrease of 0.78 percent. The stock appears to be facing some resistance at the $33.02 and $33.92 levels with some support at $33.21. Shares of Toll Brothers have gained approximately 3.0 percent in 2013.
More information on Toll Brothers and access to the free equity report can be found at:
www.WallStreetFundamentals.com/TOL
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