LONDON, April 3, 2013 /PRNewswire/ --
Earlier this week, the Commerce Department reported that construction spending rose
1.2% in the month of February. The data once again highlighted the ongoing recovery in the
U.S. housing market. With interest rates at record low levels, the improvement in housing
market is expected to continue at brisk pace, benefiting homebuilders such as Hovnanian
Enterprises Inc. (NYSE: HOV), D.R. Horton Inc. (NYSE: DHI), Lennar Corporation (NYSE:
LEN), and Beazer Homes USA Inc. (NYSE: BZH). On Tuesday, though, homebuilder stocks
struggled, ending mostly lower even as the broad market edged higher. StockCall free
coverage on HOV, DHI, LEN, and BZH is available upon registration at
Shares of Hovnanian Enterprises Inc. were among the major losers in the homebuilder
sector on Tuesday. The stock closed 1.58% lower at $5.59 after touching an intra-day low
of $5.57. Hovnanian's shares have fallen nearly 5% in the last three trading sessions. For
the year so far, the stock is down more than 20%, even as the broad market has posted
gains of more than 10%. In the last one year, though, the company's shares have gained
more than 117%, highlighting the significant gains posted by homebuilders in 2012.
Download the free technical research on HOV by signing up at
Shares of D.R. Horton Inc. also fell sharply in Tuesday's trading session. The stock
fell to an intra-day low of $23.35 before finishing the day 1.84% lower at $23.41. D.R.
Horton's shares are now down nearly 4% in the last three sessions. Despite the recent
decline, shares of DHI are still trading close to their 52-week high of $25.56.
Year-to-date, the stock is still up more than 18.30%, continuing its rally from last year.
The stock's MACD, however, has slipped below the signal line, which is a bearish signal.
D.R. Horton's shares currently have support at around $23. Register now and get access to
the free analysis on DHI at
Another homebuilder that fell sharply on Tuesday was Lennar Corp. Shares of the
homebuilder hit an intra-day low of $40.01 before finishing the day 1.43% lower at $40.03.
Lennar's shares have now fallen more than 4.20% in the last three trading sessions. Shares
of LEN are now up more than 3.60% for the year, underperforming the S&P 500. The stock
slipped below its 50-day moving average yesterday, which is a bearish signal. The stock's
MACD has also crossed below the signal line recently, further confirming the negative
trend. Sign up and read the complimentary report on LEN at
Beazer Homes USA Inc.'s shares struggled on Tuesday, falling to an intra-day low of
$15.15. The stock pared some of its losses, but still finished 2.43% lower at $15.26.
Beazer's shares are now down nearly 9% in the last three sessions, which suggests that
market sentiment has turned bearish on the stock. The stock has also slipped below its
200-day moving average, which further confirms the downbeat trend. The stock's MACD has
also slipped below the signal line and the zero-line. Beazer Homes' shares are now down
more than 9.60% for the year. The free report on BZH can be downloaded by signing up now
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