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HW 30 remains mostly unchanged after key housing reports

Builder stocks soar as building permits rise

New home being built
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The HW 30 — HousingWire’s exclusive index of mortgage finance and housing starts — remained mostly steady Tuesday, finishing down a mere 0.01% after the release of key housing data.

Homebuilder stocks moved the most, with at least two rising well over 4% in daily trading, after government data showed building permits on the rise.

The construction of privately-owned housing units authorized by building permits rose 6.2% from September to October, reaching an annual rate of 1.034 million permits for units. This is also up 13.9% from 908,000 authorizations a year earlier.

Permits on single-family homes rose 0.8% from September to October, with 620,000 authorizations reported last month alone.

While HW 30 remained a mixed bag with some mortgage and housing-related stocks down, permits data pushed Lennar Corp. (LEN); Toll Brothers (TOL); and D.R. Horton (DHI) higher.

The biggest mover was Lennar, which rose 4.83% by market close, followed by D.R. Horton, which grew 4.42%.

Luxury builder Toll Brothers saw its stock grow 3.35% by market close.

Real estate firms, especially listing websites, also improved after home price data showed ongoing growth.

Home prices increased 2% in the third quarter of 2013, making it the 9th consecutive quarterly price increase in the seasonally adjusted, purchase-only index, the Federal Housing Finance Agency House Price Index revealed.

Real estate listing site Zillow (Z) rose 5.16% for the day, followed by real estate brokerage operator Reology Holdings (RLGY), which rose 2.59% for the day.

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