"Low unemployment, solid job growth and favorable demographics should support housing demand in the coming months." Of the index’s three components, current sales conditions rose 2 points to 63.
· There is a lot of pessimism baked into Lennar’s and other homebuilders’ stocks today, with most industry players valued between six and 14 times trailing-12-month earnings– Lennar currently trades at 10 times earnings. Even if we see a slowdown in sales or some margin contraction from lower home prices and higher costs, these are extremely cheap prices that seem to be anticipating a.
Does Toll Brothers’ Q4 Earnings Miss Signal Sector Slowdown?. An earnings miss in the quarter pushed the share price down by 7%.. data released by the National Association of Home Builders.
The euro trickled lower on the back of weaker investor confidence, but the miss in the ZEW was not significant enough to drive EUR/USD to a fresh year to date low. 10-month high. Consumer.
(Bloomberg) — U.S. homebuilders are sinking today. Blame that on disappointing economic data and earnings reports that trailed estimates. The S&P Homebuilding Select Industry Index fell 2.8 percent as of 11:07 a.m. in New York, poised for its biggest drop since early April and its lowest closing level since September.