NEW YORK, NY--(Marketwire - Jan 16, 2013) - U.S. homebuilders prospered in 2012 as rising prices and shrinking inventories provided ample opportunities for growth within the industry. The SPDR S&P Homebuilders ETF (XHB) has gained over 50 percent in the past year. Five Star Equities examines the outlook for companies in the Residential Construction Industry and provides equity research on PulteGroup, Inc. (NYSE: PHM) and Toll Brothers Inc. (NYSE: TOL).
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CoreLogic recently reported U.S. home prices in November gained 7.4 percent year-over-year, the largest gain on 6.5 years. Rising prices is seen as a key factor in the U.S. housing market's recovery, and CoreLogic forecasts prices to continue to rise in 2013 by 6 percent.
"We have very low mortgage rates. We have good affordable house prices. And they seem to be rebounding, so that fear of buying a home and seeing it fall in value has disappeared. And we have a lot of pent-up demand," says David Crowe, chief economist with the National Association of Homebuilders. "We have people who have been waiting for two or three or more years to see those market conditions improve, and now they're taking advantage of that."
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PulteGroup is one of America's largest homebuilding companies with operations in approximately 60 markets throughout the country. The company is scheduled to release its fourth quarter 2012 results before market open on Thursday, January 31st. Shares of PulteGroup have soared over 150 percent in the past year.
Toll Brothers designs, builds, markets and arranges financing for single-family detached and attached homes in luxury residential communities. The company was named 2012 Builder of the Year by Professional Builder magazine, and was the first homebuilder to have won the award twice. For the fiscal year 2012, Toll Brothers reported a net income of $487.1 million, compared to just $39.8 million in fiscal 2011.
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