SOURCE: Five Star Equities

Five Star Equities

January 16, 2013 08:20 ET

U.S. Housing Market Recovery Continues as Prices in November Post Largest Gains in 6 1/2 Years

Five Star Equities Provides Stock Research on KB Home and Lennar

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 KB Home (NYSE: KBH) and Lennar Corporation (NYSE: LEN).

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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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KB Home is one of the largest and most recognized homebuilding companies in the United States. Since its founding in 1957, the company has built more than half a million quality homes. The company reported a net loss of $59 million for the fiscal year 2012, a decrease of $119.8 million when compared to a year ago.

Lennar's home building operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development and sale of residential land directly and through unconsolidated entities in which it has investments. The company reported fiscal year 2012 revenues from home sales grew 33 percent year-over-year.

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