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| D.R. Horton’s stronger-than-expected earnings report escalated the optimism |
| Encouraging signs about the housing market fanned the bullish flames today, after the National Association of Realtors’ pending-home sales index unexpectedly rose in December. Thanks to the extended tax credit for first-time homebuyers, the index inched 1% higher in December, compared to a 16.4% drop in November, when the credit was initially set to expire. Meanwhile, escalating the housing-related optimism was builder D.R. Horton (DHI), which swung to a profit for the first time since 2007 in its fiscal first quarter. Against this backdrop, the major market indexes extended Monday’s trek into the black, marking the best two-session winning streak in three months |
Regards,
Don
More on this topic
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Soaring Lumber Prices and Strong D.R. Horton Report May Not Signal an Immediate Rebound in Housin...
(Money Morning, 2/11/10)
Homebuilders Rally Despite Record Low February Sales (PHHM, LEN, HOV, TOL, BZH, DHI)
(tickerspy.com, 3/24/10)
(DHI) D.R. Horton Returns to Profitability
(Stock Blog Hub, 2/2/10)
