New-Home Sales Surge But Home Builders Still Crumble
July 24, 2013 at 10:31 AM EDT
Sales of newly built homes rose to a five-year high in June, boosting a key sector driving the economic recovery. Still, investors send shares of home builders Toll Brothers (TOL), KB Homes (KBH) and others falling in morning market action. Sales of new U.S. homes rose 8.3% last month to an annual rate of 497,000 [...]