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..
Consumer Confidence Slumps As Stimulus Payments Expire
The Conference Board said Consumer Confidence declined in August for the second consecutive month in the US with the index at 84.8 v 93.0 expected and 92.6 in July as the Covid-19 lockdown angt continued and stimulus paymetns expired. Consumers appear to see low interest rates and stimulus payments as a one-off event. Consumers were also more pessimistic about the short-term outlook.
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%
Toll Brothers Home Sales Revenue Down But Contract Value Rising
Leading luxury homebuilder Toll Brothers reported a better than expected fourth-quarter earnings Monday. Net deliveries beat expectations with 2,672 units versus the consensus estimate 2,566 units.
American Household Wealth Grows $1.83 Trillion to New Record High
Americans household wealth hit record highs in the second quarter of 2019. Stock prices are near record highs after the Federal Reserve have cut rates and investors ignore global economy slackness from the trade war and Brexit.
KB Homes Earnings Surprise After Homebuilder Selloff
KB Homes reported better than expected Q2 earnings after the market Thursday. The stock jumped 7% after it had been sold off with other homebuilders after Lennar’s $LEN conference call. A decline in homebuilding revenue has hurt the top line in the past year.
Lennar Guides Lower on Weaker West Sales and Order to Delivered Home Ratio
Lennar Corporation reported better than expected Q2 earnings Tuesday. However $LEN reversed sharply lower after guiding lower in their conference call and May new home sales showed a big miss in the west.
Mortgage Applications Rise 26.8% as Refinancing Surges on Lower Rates
Lower long term interest rates in the U.S. have seen refinancing take off, Mortgage applications jumped to their highest level since September 2016. Refinancing activity the highest since November 2016 accounted for 49.8% of mortgage applications
American Household Wealth Grows $2.19 Trillion to New Record
Property and stock prices have recovered after losing 3.7% in the last quarter after the Federal Reserve changed tact on rates. The move pushed Americans household wealth to record highs with a gain of 4.5% in the first quarter of 2019..