TOL - Homebuilder home retailer stocks drive up on robust housing starts report
Homebuilder stocks are climbing after housing starts and building permits jumped more than expected in March, foreseeing strong sales later this year.That reflects a rebound from February's severe winter storm, said Evercore ISI analyst Stan Shipley in a note.Earlier this week, homebuilder confidence edged up in April.As a result, the iShares U.S. Home Construction ETF (ITB) moves up 1.6%.Among homebuilder names, D.R. Horton ([[DHI]] +2.4%), KB Home ([[KBH]] +1.8%), NVR ([[NVR]] +2.0%), Toll Brothers ([[TOL]] +1.8%), and Meritage Homes ([[MTH]] +1.7%) are among the strongest gainers.Construction related stocks, including Sherwin-Williams ([[SHW]] +3.7%), Masco ([[MAS]] +1.3%), and Owen Corning ([[OC]] +1.2%), are also on the rise.Home improvement retailers Home Depot ([[HD]] +1.1%) and Lowe's ([[L]] +0.2%) also get in on the action.Other homebuilder ETFs: [[XHB]], [[NAIL]], [[HOMZ]], [[PKB]]YTD, D.R. Horton stock, up 43%, has been outpacing ITB, Home Depot and Sherwin Williams as seen in chart below.SA contributor David Trainer expects
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Homebuilder, home retailer stocks drive up on robust housing starts report