-
The Wall Street hedge fund spends $30 million on the California builder's stock.
-
Based on analysis of housing, economic, and demographic data for metro areas nationwide, these markets are showing signs of strength in several key metrics.
-
Investor purchases are helping to clear out much of the distressed and oversupply of existing housing.
-
David Weekley Homes reenters the Phoenix market with the acquisition of the bulk of local builder T.W. Lewis' lots. Plus, a look at the markets where the biggest builders' volume and share might not add up to good operating leverage.
-
KB Home's impressive 40% year-over-year order growth during its fiscal third quarter had industry analysts during a related earnings call Friday asking what the company was doing right to achieve those gains even as its profitability slipped. (Click
-
The National Association of Realtors' Pending Home Sales Index (PHSI) took a turn downward in August, falling 1.2% to 88.6 from 89.7 in July but remained 7.7% ahead of August 2010. The Realtor group said the decline was due to "mixed" regional results, driven down by a decline in the Northeast...
-
Applications for home mortgages rose sharply last week, with the Mortgage Bankers Association's Market Composite Index jumping 9.3%, seasonally adjusted, from a week earlier, the MBA said Wednesday. The gain was driven primarily by refinancings, with the Refinance Index up 11.2% from the previous...
-
Single-family home prices notched their fourth straight month of increases in July, moving up 0.9% across the 20 major markets measured by the S&P/Case-Shiller Home Prices Indices released Tuesday morning. The 10- and 20-City Composite Indices were each up 0.9% in July over June, with 17 of the 20...
-
Sales of new single-family homes slipeed 2.3% from July to a seasonally adjusted annual rate of 295,000 in August, the U.S. Census Bureau and Department of Housing and Urban Development reported Monday. The rate was 6.1% ahead of August 2010 and met the Wall Street estimate. Prices fell as well.
-
A three-judge panel from the Ninth Circuit Court of Appeals late Wednesday allowed a class-action suit against eight large home builders over the impact of risky mortgage lending on homeowners in planned communities to proceed. A district court judge had earlier dismissed the suit, ruling that the...
-
KB Home, Los Angeles (NYSE:KBH) on Friday reported a net loss of $9.6 million (-$.13 per diluted share) for its fiscal third quarter ended August 31. The results, which included $1.2 million in impairments, a $7.5 million reversal of warranty claims charges and a $2.5 million charge to deferred tax...
-
Sales of existing single-family, coop and condominium homes rose 7.7% to a seasonally adjusted annual rate of 5.03 million in August from an upwardly revised 4.67 million in July, 18.6% higher than the pace of August 2010 and well ahead of the 4.75 million pace expected by Wall Street...
-
Applications for mortgage loans increased 0.6% on a seasonally adjusted basis last week from one week earlier, according to the Mortgage Bankers Associations weekly report on its Market Composite Index, MBA said Wednesday. On an unadjusted basis, the Index increased 25.2% compared with the previous...
-
New-home construction fell to a three-month low in August, driven down by big drops in the multifamily sector, the often volatile Northeast and in single-family building in the Midwest. The Commerce Department said Tuesday that starts in August were at a seasonally adjusted annual rate of 571,000...
-
With the release of its third quarter results, Lennar closed on its sixth consecutive quarter of profit. All three of the company's operating units--home building, financial services, and its distressed asset division Rialto--contributed positively to the bottom line, each working in synergy with...
-
Builders grew slightly more glum in September despite record low mortgage rates and evidence from several big public builders that sales and prices appear to have stabilized. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for September dropped one point from August...
-
Lennar Corp., Miami (NYSE:LEN) early Monday reported a net profit of $20.7 million, $0.11 per diluted share, for its fiscal third quarter ended August 31. The results, which included a mark-to-market charge to the company's Rialto land unit of $10.1 million, compared to earnings of $30.0 million...
-
Sales of existing, single-family detached homes in California jumped 8.6% from July to a seasonally adjusted annual pace of 497,390, up 10.2% from August of last year, the California Association of Realtors reported Thursday. The median price rose modestly to its highest level of 2011.
-
Mortgage activity as measured by the Mortgage Bankers Association's Market Composite index increased 6.3% last week on a seasonally adjusted basis, which included an adjustment for Labor Day, from a week earlier. On an unadjusted basis, the Index decreased 15.4%. The seasonally adjusted Purchase...
-
Hovnanian Enterprises, Red Bank, N.J. (NYSE:HOV) on Wednesday after market close reported a net loss of $50.9 million (-$0.47 per share) for its fiscal third quarter ended July 31. The loss compared with a loss of $72.9 million, (-$0.92 per share) for the comparable quarter in 2010. The loss...