Consumer companies from Mattel Inc. to AutoNation Inc. are beating analysts’ sales estimates by the broadest margin in the Standard & Poor’s 500 Index as shoppers help spur growth in the U.S. economy.
Confidence among U.S. homebuilders unexpectedly fell in April for a third month, restrained by rising costs for materials and financing restrictions.
Efforts to revamp U.S. immigration laws may bring at least one unintended benefit for the economy: The nascent housing recovery will probably get an added boost.
Lennar Corp., the third-largest U.S. homebuilder by revenue, rose to the highest in almost six years after reporting a better-than-estimated profit and a 34 percent jump in orders in the fiscal first quarter.
Sales of new U.S. houses in February capped the best back-to-back months in more than four years, spurred by near record-low borrowing costs and improving job prospects.
Sales of previously owned U.S. homes probably rose in February to the highest level in more than three years, sustaining a rebound that is bolstering growth, economists said before a report today.
Americans bought existing homes at the fastest pace in three years in February as borrowing costs near record lows spurred a housing revival that’s forecast to boost economic growth this year.
Lennar Corp., the largest U.S. homebuilder by market value, said it plans to diversify into apartments with the construction of $1 billion of multifamily properties as rental demand climbs.
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.
Home prices in 20 U.S. cities rose in the 12 months to November by the most in more than six years, showing the housing market will play a more central role in the U.S. economic expansion this year.
"We believe we are still in the beginning stages of a recovery that will be sustained for several more years."
- Stuart Miller on Apr 22, 2013