The latest encouraging data came on May 4, when the National Assn. of Realtors said its index of pending home sales rose 3.2% from February to March. That sent shares of homebuilders surging, with KB Home up 11% and Lennar up 9%. But just how good an indicator of a housing recovery are those pending sales numbers? And what do those and other recent sales reports mean for homebuilders?, more
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