Market Overview

9 Stocks That Moved On The Big New Homes Sales Beat

9 Stocks That Moved On The Big New Homes Sales Beat

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.

See Also: Best Homeowners Insurance

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.

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