Can Home Depot Deliver Record Sales and Raise Guidance and Margins Again?

Home Improvement Retailer Home Depot reports second quarter earnings before market open Tuesday. $HD is expected to continue to grow revenue and earnings with its position to take advantage of the upsurge in construction and renovation. The elevated backlogs should insulate the company from the broader slowdown in the do-it-yourself market given its preference among professional contractors. The second quarter is historically HD’s strongest $HD sales rose to the highest ever for the first quarter of the year. The company … Continue reading “Can Home Depot Deliver Record Sales and Raise Guidance and Margins Again?”

U.S. Pending Home Sales Fall Sharply in June, Down 8.6% As Homebuyers Affordability Squeezed

US pending home sales fell a sharp 8.6% mom in June of 2022, much worse than market forecasts of a 1.5% drop. This was in contrast to increasing 0.4% in May. Mortgage data has been weak as escalating mortgage rates and housing prices are impacting affordability for potential buyers. US new home sales for June declined 8.1% month-over-month to a seasonally adjusted annual rate of 590,000 units (consensus 670,000) from a downwardly revised 642,000 (from 696,000) in May   National Association … Continue reading “U.S. Pending Home Sales Fall Sharply in June, Down 8.6% As Homebuyers Affordability Squeezed”

KB Homes New Homes Average Selling Price Up 21% Year-on-Year but Sales Pace Slackened

KB Homes reported better than expected Q2 earnings after the market Wednesday, however its sales pace slackened as buyers faced higher mortgage interest rates and soaring inflation. The stock was higher with other homebuilders after the report. Earlier today the Mortgage Bankers Association showed mortgage applications in the US w.e. 17 June rose another 4.2% after rising 6.6% the prior week. Buyers appear to be trying to get in ahead of more Fed rate rises. The average long-term mortgage rate climbed … Continue reading “KB Homes New Homes Average Selling Price Up 21% Year-on-Year but Sales Pace Slackened”

Home Depot Delivers Record Sales and Raises Guidance and Margins

Home Improvement Retailer Home Depot was in a position to take advantage of the upsurge in construction and renovation. $HD sales rose to the highest ever for the first quarter of the year. The company is still seeing healthy demand, even in the face of rising prices and a shaky housing market and raised guidance accordingly. Earnings HD earnings per share were $4.09, up from $3.86 a year earlier. Analysts expected earnings of $3.69 a share. First-quarter sales climbed to … Continue reading “Home Depot Delivers Record Sales and Raises Guidance and Margins”

Home Prices Sharply Higher in Arizona and Florida in January 2022 says S&P CoreLogic Case-Shiller

US home prices increased rose 19.1% year-over-year in January, up from 18.9% in December as measured by the CoreLogic Case-Shiller 20-city home price index. Biggest rises were Phoenix, Tampa and Miami at 32.6%, 30.8% and 28.1%, respectively.   Case-Shiller January US 20-city home price index +19.1% y/y vs +18.6% prior Prices up 1.4% m/m FHFA index +18.2% y/y vs +17.7% prior FHFA index +1.6% m/m The strength in home prices continues to be very broadly based. All 20 cities saw … Continue reading “Home Prices Sharply Higher in Arizona and Florida in January 2022 says S&P CoreLogic Case-Shiller”

Home Prices Rose Record 19.9% yoy in July 2021 says S&P CoreLogic Case-Shiller

US home prices increased at a new record 19.9% yoy in July 2021, following a 19.1% rise in June S&P as measured by the CoreLogic Case-Shiller 20-city home price index. Biggest rises were Phoenix (32.4%), San Diego (27.8%), and Seattle (25.5%)

Record High U.S. House Prices Hitting New and Existing Home Sales

US May existing and new home sales both came out much lower than expected. It shouldn’t be that big a surprise given just how much prices have risen and how many people have been financially crippled by the COVID lockdown. Low inventory also frustrated potential buyers.

KB Homes Robust Orders Deliver Highest Backlog in Last 15 Years

KB Homes reported better than expected Q1 earnings after the market Tuesday on lower than expected revenue from the weatherand power issues in Texas. The stock was higher with other homebuilders after robust order numbers. $KBH had the company’s highest backlog level in the last 15 years.

KB Homes Earnings Rise Along With Stronger US Home Sales

KB Homes reported better than expected Q3 earnings after the market Tuesday.  The stock jumped 3% after it had been bid up over 4% with other homebuilders after a robust existing housing sales number before the report. A rise in homesales since the COVID lockdown has suprised many experts..  

Toll Brothers Earnings Helped By Cost Reductions as Contracts Fall on Economy Lockdown

Leading luxury homebuilder Toll Brothers reported better than expected first-quarter earnings Wednesday. The stock $TOL rose over 9% on the report after being up over 9% earlier, up 18% on the day on hopes of recovery. Home sales revenues were $1.52 billion, down 11%