Housing Stocks Bounce as Data Improves

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The most encouraging housing data in more than two years gave housing stocks a healthy boost today.

Existing-home sales in August were up 7.8% from the previous month and 9.3% from last August. Housing starts also improved, increasing 2.3% from July, with single-family home construction jumping to its highest total since April 2010.

Sales prices also increased, rising 9.5% from last August.

It all points to a long-awaited housing recovery . It also did wonders for stocks and ETFs in the housing sector in today's trading session.

Here were some of the day's fastest-rising housing stocks. Against the backdrop of a market that was virtually stagnant today, these gains look even more impressive:

  • Toll Brothers (NYSE: TOLL): Shares of the national homebuilder rose 3.5% to close near a 52-week high at $36.41 a share.
  • IShares Dow Jones US Home Construction (NYSE: ITB): Not surprisingly, this ETF was up 2.6%. It has now gained more than 61% in 2012.
  • SPDR S&P Homebuilders ( XHB ): The other major ETF that tracks the housing market, XHB ascended 1.76% today. It's now up almost 48% for the year.
  • Lowe's Companies (NYSE: LOW): The home improvement supply chain jumped 1.4% to close just a couple ticks below $30 a share.
  • Home Depot (NYSE: HD): Shares rose 1% during the trading day, and are up another 0.6% in after hours to achieve a new 52-week high.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks

Referenced Stocks: HD , ITB , LOW , XHB

Wyatt Investment Research

Wyatt Investment Research

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