NEW YORK, NY--(Marketwire - Nov 21, 2012) - The majority of homebuilders rose Monday after more positive news supporting the recovery of the U.S. housing market was released. The National Association of Realtors reported that U.S. home sales increased 2.1 percent in October. The SPDR S&P Homebuilders ETF (XHB) rose 2.3 percent Monday and is up nearly 50 percent year-to-date. The Paragon Report examines investing opportunities in the Residential Construction Industry and provides equity research on Beazer Homes USA, Inc. (NYSE: BZH) and D.R. Horton, Inc. (NYSE: DHI).
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The seasonally adjusted annual sales rate rose to 4.79 million in October, which is approximately 11 percent higher than last year's pace. The pace is still below the 5.5 million mark that economists believe is a "healthy" market. The Realtors' group has reported that the median price for preoccupied homes has reached $178,600, an 11.1 percent increase from a year ago. The supply of homes available for sale fell to a 10 year low, with 2.14 million homes available for sale at the end of October.
Earlier this month US homebuilder confidence was reported to be at a 6-year high. The National Association of Home Builders/Wells Fargo builder sentiment index rose to 46 in October from 41 in September.
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Beazer Homes USA's industry-leading high performance homes are designed to lower the total cost of home ownership while reducing energy and water consumption. The company reported new home orders for fiscal 2012 surged 24.8 percent, compared to fiscal 2011. Shares of Beazer Homes have gained nearly 20 percent year-to-date.
D.R. Horton is the largest homebuilder in the United States, based on homes closed in the twelve-month period ended June 30, 2012. For the fiscal year ended September 30, 2012, net income increased to $956.3 million, compared to just $71.8 million in fiscal 2011. "Both our fourth quarter and the fiscal year experienced significant year-over-year improvements in net homes sold, homes closed, home sales gross margin, SG&A expense ratio and financial services profitability," said Chairman Donald Horton.
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