Homebuilder stocks rose as much as 15% Wednesday, reversing a negative trend that began last Friday.
Stocks for Lennar (LEN), KB Home (KBH) and Pulte Group (PHM) grew at least 3% Wednesday morning, while Hovnanian Enterprises (HOV) rose as much as 15% on a swift profit increase and a 52% upswing in second-quarter construction orders.
Luxury builder Toll Brothers (TOL) saw its stock increase more than 2% in morning trading.
The homebuilder stock surge follows dramatic declines in the segment after a weak jobs report on June 1.
U.S. homebuilder stocks saw their largest decline in 10 months with the S&P 1500 Homebuilding Index plummeting 8% last Friday alone, Five Star Equities said.
