NVR, Inc. (NVR), KB Home (KBH), Standard Pacific Corp. (SPF) and other homebuilders moved lower after a government report showed that housing starts slumped in October. Housing Starts Drop Unexpectedly Housing starts fell short of expectations, dropping to a seasonally adjusted 529,000 in October from 592,000 a month earlier. Many economists were projecting the indicator to rise to 600,000 for the month ...

Euro-dollar opened the week around $1.5010 and was pressed to session lows of $1.4981 as rate tracked early pressure on cable, with CTA's noted sellers in the move. Rate met decent demand interest on the approach to $1.4980 (NY low $1.4985) before reversing.[More...]

Homebuilder stocks are among the biggest price gainers in the market on Thursday, as there are reports that Congress is considering an extension of the first time home buyers tax credit.  At this point, the $8,000 tax credit is set to expire at the end of November, but unless home buyers are already under contract on a home, most future buyers will miss out on the credit.  Estimates suggest that as many as one-third of home buyers in recent months have taken advantage of this program.  Obviously, there are concerns that demand will drop off when this tax credit expires, much like the demand fell off for cars in the aftermath of Cash for Clunkers (Cash for Clunkers Saps Demand).[More...]

Credit Market Overview August 18, 2009 A man is not a whole and complete man unless he owns a home and the ground it stands on.”  Those words came not from Bill Clinton on the launch of National Homeownership Day in 1995 or George Bush when he pledged his commitment to “an ...[More...]

The July Credit Suisse First Boston Monthly Survey Of Real Estate Agents was made available today fir institutional clients and consultants on the survey. Presented monthly, this 60-page (or thereabouts) publication has been an extremely accurate and predictive document - my first choice when I begin pondering my monthly real estate strategy. Almost always, I focus on the top fifty metro markets and regions, primarily interested in the pure statistics and opinions of "boots on the ground" agents and investors that make this such an excellent read. Another feature of this monthly survey lists agents recommendations for national builders. The percentage number is based upon positive less negative responses from agents. This is an important reflection on these builders, and thus their stock, as over 40% of new home sales involve a real estate agent. Here is the list, best to least favored: Pulte[More...]

Tammy Derosier and Susan Morrison talk about combining your fundamental research with Technical Analysis

Ed Stenson takes a look at market news before the open.