Inside the August New Home Sales
From August 2013, new home sales have risen 33%. The report indicated that the number of homes available on the market has declined. If this continues, it may be good news for homebuilders including KB Home (KBH), Lennar (LEN) DR Horton (DHI) and Ryland Homes (RY).
On Wednesday, KB Home released its third quarter earnings results, which came in higher than a year ago.
Investors have seen disappointing results in new home sales and housing starts over the last few months, but many investors are seeing an upside after this latest report.
Mutual Funds on Watch
|Fidelity® Select Construction & Housing Portfolio
|LEN KBH RY
|CGM Focus Fund
|Fidelity® Value Fund