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Housing Stocks Put Together Rally After Builder Sentiment Improves

Forbes - Jun 18, 2012

Declines outnumbered declines by a comfortable margin among U.S. stocks Monday morning, as any enthusiasm for a win for the status quo in Greece proved short-lived. There was at least one pocket of strength in the equity market though, with home builders climbing amid the broader weakness.

The impetus for the rally came from the monthly gauge of sentiment from the residential construction industry, with a one-point gain from the National Association of Home Builders monthly index. At a reading of 29, the measure touched its highest level since May 2007.

Declines outnumbered declines by a comfortable margin among U.S. stocks Monday morning, as any enthusiasm for a win for the status quo in Greece proved short-lived. There was at least one pocket of strength in the equity market though, with home builders climbing amid the broader weakness.

The impetus for the rally came from the monthly gauge of sentiment from the residential construction industry, with a one-point gain from the National Association of Home Builders monthly index. At a reading of 29, the measure touched its highest level since May 2007.

Read Full Article from Forbes

- Posted: 2012-06-18 11:32:27


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