RECENT Real Estate RESEARCH
Housing starts rose from an upward-revised 1,069,000 to 1,174,000 in June. This was well in excess of Wall Street estimates of just over 1.1 million.
D.R. Horton’s (DHI) shares outstanding stood at 366.54 million as of March 2015. Donald Ray Horton, CEO of the company, holds a 7.50% stake in the company.
Private payrolls increased by 223,000 in June, while government jobs growth was flat and manufacturing employment barely increased.
Lennar Financial Services reported $169.9 million in revenue, as mortgage origination volumes increased and refinance activity picked up.
Foreclosure completions decreased by 1,000 units to 40,000 in April, according to CoreLogic. Completions are down 19.8% year-over-year. That said, 39,000 is still a relatively elevated number.
Housing starts rose from an upward-revised 944,000 to 1,135,000 in April. This was well in excess of Wall Street estimates of just over 1 million.
Construction jobs rose by 45,000 in April, and the sector has added a total of 280,000 jobs over the past year. The growth may indicate that builders are adding some inventory.
D.R. Horton (DHI) reported 2Q15 revenues of $2.3 billion, a 38% increase year-over-year, and higher than Wall Street expectations of $2.2 billion.
The bond market and, by extension, REITs will hinge on when the Fed is planning to raise rates. Nothing this week should move the bond market.
Foreclosure completions decreased by 4,000 units to 39,000 in February. Completions are down 15.7%, but 39,000 is still a relatively elevated number.
Spring selling season is in full swing, and investors are eager to see how the homebuilders are seeing the upcoming year.
This series is focused on housing indicators. We’ll cover all the important indicators that positively or negatively affect the homebuilding industry.
Lennar Corporation (LEN) shares outstanding stood at 205 million as of November 2014. The Vanguard Group has the largest stake in Lennar with 7.27% holding.
A home is usually the single largest purchase that an individual or couple makes. So the homebuilding industry plays a key role in shaping the economy.
Pulte (PHM) reported fourth quarter revenues of $1.79 billion, which more or less matched the Wall Street estimate of $1.76 billion.
Pending home sales are a useful indicator for overall activity in the residential real estate space. Economists have tempered their outlook for 2015.
Single-family housing starts increased from 679,000 to 728,000. Single-family starts have been much more stable than multi-family starts of late.
Beating Wall Street expectations, D.R. Horton reported 1Q15 revenues of $2.3 billion—a 35% year-over-year increase and a sequential decrease of about 7%.
KB Home reported deliveries of 2,229 units, up 9% from 2,038 units a year ago. Average selling prices increased 17%.
Lennar Corporation (LEN) is a large, relatively diversified homebuilder with a broad geographic footprint. The company focuses on the non-luxury segments.