Homebuilder Stocks Higher On Better Home Construction Numbers

U.S. home construction rose 15.7 percent in July to a 1.09 million rate, the fastest pace in eight months. Shares of housing stocks are up sharply on the news.

Some notable names and pre-market gains:

• Toll Brothers TOL - up 1.67 percent
• DR Horton DHI - up 2.70 percent
• PulteGroup PHM - up 1.70 percent
• Hovnanaian HOV - up 1.42 percent
• KB Homes KBH - up 1.97 percent
• Lennar LEN - up 1.67 percent

Shares in the Homebuilder ETF XHB are also trading higher by 1.7 percent.