New home sales for the month of September soared to the highest level in a decade.
Throughout the month of September, sales of new U.S. single-family homes rose 18.9 percent to a seasonally adjusted annual rate of 667,00 units. By comparison, analysts and experts were expecting the SAAR rate to read 555,000, which would have implied a decrease from August's reading of 560,000 units.
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Naturally, the much stronger than expected home sales report sent shares of homebuilders and related stocks mostly higher. Here is a summary of how the stocks performed as of late Wednesday morning.
- M/I Homes Inc (NYSE:MHO): +2.81 percent at $30.00.
- PulteGroup, Inc. (NYSE:PHM): +2.06 percent at $29.27.
- Toll Brothers Inc (NYSE:TOL): +0.49 percent at $44.82.
- Lennar Corporation (NYSE:LEN): +0.10 percent at $58.07.
- D. R. Horton Inc (NYSE:DHI): -0.32 percent at $43.18.
- iShares Dow Jones US Home Const. (ETF) (NYSE:ITB): -0.51 percent at $38.77.
- Hovnanian Enterprises, Inc. (NYSE:HOV): -1.08 percent at $2.28.
- SPDR S&P Homebuilders (ETF) (NYSE:XHB): -1.54 percent at $40.81.
- KB Home (NYSE:KBH): -1.96 percent at $27.04.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.