Pending Homes Sales Spike, Homebuilders Are On Fire

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In December, it was reported that November ending home sales collapsed as the first-time homebuyer tax credit ended.

And now, according to the National Association of Realtors, the market is ‘stabilizing’, with the numbers jumping over 10% year over year. Sequentially, the overall index was up just 1% which seems to be what analysts were expecting.

Still, the homebuilders, meanwhile, are on fire, as DR horton, Beazer, and Hovnanian are all up over 5%.

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