For Immediate Release
Chicago, IL – April 26, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: D.R. Horton (DHI), Fortune Brands (FO), Weyerhaeuser (WY), Wal-Mart (WMT) and Home Depot (HD).
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Here are highlights from Friday’s Analyst Blog:
New Home Sales Soar 27%
On an incremental basis, there were 7x as many additional houses sold in Dixie than in the Northeast. By price category, sales of starter homes (under $200,000) rose 54.5% on the month, and are up 21.4% year over year. Sales of McMansions (over $500,000) were unchanged (this is based on the non-seasonally adjusted actual sales, and are only in thousands, so there is a lot of potential for rounding errors in this data) and were down 33.3% from a year ago. Sales of Move up homes rose 58.3% on the month and are up 26.7%.
It is hard to overstate just how important new home sales are. Traditionally, residential investment is the key locomotive that pulls the U.S. economy out of recessions (and also drags us into them).
Note how coming out of every recession (or even during the worst of it) new home sales start to rise sharply. This tends to set off a very powerful virtuous cycle, since each new home built involves a very large amount of economic activity that stretches throughout the economy. It is not just good news for the homebuilders like D.R. Horton (DHI) but also to suppliers like Fortune Brands (FO), lumber companies like Weyerhaeuser (WY) to truckers who move the materials and the construction workers (very hard hit in this downturn) who will now have jobs.
They will, in turn, be able to once again go shopping at Wal-Mart (WMT), and the sub-contractors will be doing a lot more shopping at Home Depot (HD). This is a VERY positive report, even if it is goosed a bit by the end of the tax credit.
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