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Shares of most homebuilders were mixed in Wednesday trading after two reports gave weak readings on the current housing market.
The housing bust left homebuilders with plenty of red ink on their books as they walked away from swaths of land they no longer needed.
Among the sector activity stories for Wednesday, Oct. 28, from AP Financial News:
Shares of homebuilders slid Wednesday as new home sales dropped for the first time in five months.
Shares of U.S. homebuilders slid Monday after an analyst cut his estimates on several companies and said most in the industry won't turn a small profit until late 2011.
Stocks of homebuilders slipped Thursday after a fresh batch of housing data showed disappointing August sales, and a Citi Investment Research analyst suggested homebuilder stocks may be too expensive.
Shares of homebuilders jumped Tuesday after a gauge of future U.S. home sales rose more than expected to the highest level in over two years but were later pulled down with the broader market on concerns about the overall economy.
Shares of homebuilders climbed Friday after the National Association of Realtors said homes sales surged in July, while Federal Reserve Chairman Ben Bernanke said the U.S. economy is on the cusp of a recovery.
Shares of homebuilders advanced Tuesday after a report showed construction of new homes rose for the fifth straight month, while shareholders approved a takeover of Centex Corp. by rival homebuilder Pulte Homes Inc.
An 11 percent jump in new home sales in June sent homebuilders' shares surging Monday at midday.
Shares of major U.S. homebuilders rose Thursday after Lennar Corp.'s second-quarter earnings report showed a significant spike in sales of completed homes and new orders compared with the prior three-month period.
LOS ANGELES — Homebuilders across the country say they are finally seeing signs the three-year housing downturn is ending.
Wall Street got some encouragement from the nation's largest homebuilder and its cross-Texas rival on Tuesday, with both companies posting narrower losses in the last quarter of 2008, even as rising unemployment and spiraling home values scared off many would-be homebuyers.
Homebuilders are always trying to sell their homes, but these days they have an extra incentive — beating the clock.
Four of the nation's largest homebuilders have agreed to pay $4.3 million in fines for failing to control runoff at construction sites in 34 states and the District of Columbia, the Environmental Protection Agency and Justice Department announced Wednesday.
Homebuilder D.R. Horton said Tuesday the industry could face tough times until 2010, and underscoring that point, Toll Bros. and Hovnanian Enterprises Inc. each reported a second-quarter loss.
Homebuilders and the mortgage industry are emerging as big victors in a bipartisan agreement reached by Senate leaders on legislation designed to limit the housing crisis.
Homebuilders Win Big, Homeowners Wait?One of the biggest provisions — costing taxpayers an estimated $6 billion — would allow builders and others in the housing business to count their losses this year and in 2009 against the big profits they made as far back as 2004.
Beazer's Mortgage under Federal Investigation Abusive LendingFederal Investigators Probing Home Builder Beazer's Mortgage Business Beazer Homes USA Inc., the sixth-largest U.S. home builder, on Wednesday confirmed it is cooperating with federal prosecutors in a probe relating to its mortgage business.
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