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Big day for homebuilders after housing starts numbers

Nov. 17, 2016 11:43 AM ETToll Brothers, Inc. (TOL) StockKBH, TOL, PHM, HOV, NVR, DHI, LEN, TMHC, LGIHBy: Stephen Alpher, SA News Editor2 Comments
  • This morning's housing starts for October was off the charts - rising 25.5% from September to the fastest pace in nine years. Stripping out the notoriously volatile multifamily starts still leaves single family starts up 10.2% from September.
  • Of course, interest rates continue to rise - with the 10-year Treasury yield up another three basis points to 2.26% - but the builders can worry about that another time.
  • The S&P 500 is ahead 0.35%, with the homebuilders are outperforming by a mile.
  • Toll Brothers (TOL +2.9%), LGI Homes (LGIH +6.2%), Taylor Morrison (TMHC +3.5%), KB Home (KBH +2.4%), Lennar (LEN +2.5%), Hovnanian (HOV +1.4%), Pulte (PHM +2.7%), D.R. Horton (DHI +3.2%), NVR (NVR +1.8%)

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