Big day for homebuilders after housing starts numbers
- This morning's housing starts for October was off the charts - rising 25.5% from September to the fastest pace in nine years. Stripping out the notoriously volatile multifamily starts still leaves single family starts up 10.2% from September.
- Of course, interest rates continue to rise - with the 10-year Treasury yield up another three basis points to 2.26% - but the builders can worry about that another time.
- The is ahead 0.35%, with the homebuilders are outperforming by a mile.
- Toll Brothers ( +2.9%), LGI Homes ( +6.2%), Taylor Morrison ( +3.5%), KB Home ( +2.4%), Lennar ( +2.5%), Hovnanian ( +1.4%), Pulte ( +2.7%), D.R. Horton ( +3.2%), NVR ( +1.8%)