Builder Stocks Gain As Demand For Homes, Prices Rise
Posted on August 09, 2012 at 15:00 PM EDT
Homebuilder stocks rose in Thursday trading after JPMorgan Securities upgraded PulteGroup (PHM), KB Home (KBH) and Beazer Homes USA (BZH), citing higher demand, which is leading to rising housing prices. A new industry report also noted home prices rising across many U.S. metro areas. The brokerage said the housing market is set to improve over the next 18 months. PulteGroup shares were up 4.6% in afternoon trading. KB Home advanced 6.7% and