Sure starting to feel like a full-on crash about right now I'd say...
Shares of home builders fell sharply on Wednesday after pessimistic views drove shares down about 3.5 percent.
"I think it was a combination of things," said Raymond James and Associates analyst Rick Murray.
On Tuesday, UCLA Anderson School of Management's Anderson Forecast predicted that U.S. housing construction would begin declining in early 2006.
Additionally, the Greater Capital Area Association of Realtors issued a report showing that the Washington D.C. area overall housing market, one of the hottest U.S. markets, is declining at steep rate.
"The market appears to be deteriorating at a brisk pace," Murray wrote in a report.
The inventory of homes for sale rose 69 percent and contracts fell 19 percent compared with November 2004.
"As we have noted, we suspect 'hidden inventory' from speculators may be hitting the market, contributing to the sharp increase seen in recent months," Murray wrote.
December 08, 2005
Home builder stocks drop on pessimism - and speculators "hidden inventory" hits the market
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5 comments:
Interesting part of this is HB stocks (especially TOL) after an initial sell-off, managed a decent gain today on high volume. We'll see how long this "strength" will last.
about 30 seconds
these dogs are following the .com arc
when did the builders drop?
I have been trending green.
In fact one builder just announced a dividend hike. You ned real money to payout dividends.
Well your 30 seconds passed a while ago. Care to take another GUESS???? LOL
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