Builder Sentiment Index Falls -- KB Home and PulteGroup Shares Follow
20 April 2012 - 10:20PM
Marketwired
After an impressive start to the year the Residential Construction
Industry has started to fall. The outlook for U.S. homebuilders
dropped in April for the first time in six months, a sign that the
Industry is still recovering. The SPDR S&P Homebuilders ETF has
dipped over 4 percent in the last month. The Paragon Report
examines investing opportunities in the Residential Construction
Industry and provides equity research on KB Home (NYSE: KBH) and
PulteGroup, Inc. (NYSE: PHM).
Access to full reports can be found at:
www.ParagonReport.com/KBH www.ParagonReport.com/PHM
The National Association of Home Builders reported earlier this
week that their builder sentiment index -- which scale runs from 0
to 100 -- fell to 25 from 28 the previous month. March's reading
was the highest rating since June of 2007. The dip came as a
surprise to many as analysts had predicted the index would continue
its upward momentum.
"What we're seeing is essentially a pause in what had been a
fairly rapid build-up in builder confidence that started last
September," said David Crowe, chief economist with the
homebuilders' group. "This is partly because interest expressed by
buyers in the past few months has yet to translate into expected
sales activity."
Paragon Report releases regular market updates on the
Residential Construction Industry so investors can stay ahead of
the crowd and make the best investment decisions to maximize their
returns. Take a few minutes to register with us free at
www.ParagonReport.com and get exclusive access to our numerous
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KB Home is one of the largest and most recognized homebuilding
companies in the United States. The board of directors of KB Home
has declared a quarterly cash dividend of $.025 per share on the
Company's common stock, reflecting its decision to reduce the
Company's quarterly cash dividend from $.0625 per share. The
dividend is payable on May 17 to stockholders of record on May 3,
2012.
PulteGroup, Inc. recently announced that it will release its
first quarter 2012 financial results before the market opens on
Thursday, April 26, 2012. The Company will hold a conference call
to discuss first quarter results that same day at 8:30 a.m. (ET). A
live audio webcast of the call will be available on PulteGroup's
website.
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