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Home Builders

Posted By Barry Ritholtz On September 7, 2006 @ 10:20 am In Real Estate | Comments Disabled

Cancellations up dramatically;

Forecast cut;

Sales down significantly year over year;

Inventory up tremendously.

Beazer Homes USA:  said net home sales for the two months ended Aug. 31 fell 49% from the year ago; Their cancellation rate rose to 50% from 26%.

KB Home cut its forecast today;

Hovnanian Enterprises reported a second straight quarter of declining earnings and orders

>

Sources:
Beazer trims 2006 outlook [1]
John Spence
MarketWatch,10:00 AM ET Sep 7, 2006
http://tinyurl.com/f9k5a

US stock futures fall on inflation, housing fears [2]
Chris Sanders
Reuters, Thu Sep 7, 2006 4:53am ET
http://tinyurl.com/fkz7v


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2006/09/home-builders/

URLs in this post:

[1] Beazer trims 2006 outlook: http://www.marketwatch.com/News/Story/Story.aspx?dist=newsfinder&siteid=google&guid=%7BA1DD67C7-D86D-4A8A-AD70-6FFB803FC520%7D&keyword=

[2] US stock futures fall on inflation, housing fears: http://today.reuters.com/news/articlebusiness.aspx?type=tnBusinessNews&storyID=nN07232988&imageid=&cap=&from=business

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