Lennar and PulteGroup Look to Benefit as New Home Sales Predicted to Rise
Five Star Equities Provides Stock Research on Lennar and PulteGroup
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 09/28/12 -- Home builders have continued to outpace the broader markets in 2012 as record low mortgage rates have boosted demand for new homes. The Standard and Poor's Supercomposite Homebuilding Index has gained roughly 75 percent this year, while the S&P 500 Index has gained 14 percent over the same period. Five Star Equities examines the outlook for companies in the Residential Construction Industry and provides equity research on Lennar Corporation (NYSE: LEN) and PulteGroup, Inc. (NYSE: PHM).
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Low borrowing costs and a decline in the supply of foreclosed homes have combined to provide a favorable environment for homebuilders in 2012. While new home sales fell slightly in August, 0.3 percent to an annual rate of 373,000, they still are roughly 30 percent higher than a year ago.
"Builders are a little more optimistic about future sales and buyer traffic and the mortgage environment is favorable," said Anika Khan, an economist at Wells Fargo Securities LLC. "New homes sales will continue to improve over the next few months and in the coming year."
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Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Revenues from home sales increased 33 percent in the third quarter of 2012 to $932.8 million from $700.6 million in third quarter of 2011. Shares of the company have risen over 75 percent year-to-date.
PulteGroup is one of America's largest homebuilding companies with operations in approximately 60 markets throughout the country. Revenue from home sales in the second quarter increased 14% from the prior year to $1.0 billion. Higher revenue for the period was driven by an 8% increase in average selling price to $268,000, combined with a 5% increase in closings to 3,816 homes. The company is scheduled to release third quarter results on October 22, 2012.
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Datum: 28.09.2012 - 12:20 Uhr
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