Two widely followed titans of housing battled on Surveillance this morning -- bullish Corcoran Group founder Barbara Corcoran and bearish Zillow Inc. Chief Economist Stan Humphries.
D.R. Horton Inc., the second-largest U.S. homebuilder by revenue, fell in New York trading after reporting a quarterly profit that missed analyst estimates.
Toll Brothers Inc. , the largest U.S. luxury-home builder, reported increases in sales, prices and orders during its second quarter as more owners decided to move up to bigger properties.
Douglas Yearley Jr. , the first non- Toll brother to lead Toll Brothers Inc. , has a plaque on his desk with a warning: “You can buy more land in an afternoon than you can get rid of in a lifetime.”
KB Home, a Los Angeles-based homebuilder, rose to an almost three-year high after reporting a 54 percent increase in orders for the first seven weeks of its fiscal first quarter.
Lennar Corp. reported a better- than-estimated third-quarter profit as margins on house sales improved and revenue grew at its distressed-investing division. The stock climbed the most in four months.
"We maintain our overweight rating, as we believe the company, as a global leader in the rapidly expanding quartz countertop market, is well positioned to benefit from the category's increased penetration over the next several years."
- Michael Rehaut on Aug 06, 2014