Are Investors Picking a Bottom in Housing Stocks?

Home builder stocks such as PutleGroup (NYSE:PHM), DR Horton (NYSE:DHI), Masco (NYSE:MAS), and Lennar (NYSE:LEN) are the biggest winners in the S&P 500 today. All are profiting from data Thursday that reported pending home sales soared to the highest level in 19 months.

Although many economists are reluctant to call a bottom in housing, it appears that some of the big money isn’t holding off for official bottom calls.

The case for housing builds with today’s data. In November the NAR’s pending home sales index amplified 7.3 percent from October, a big increase on the 0.5 percent growth expected by economists.

“Some of the increase in pending home sales appears to be from buyers recommitting after an initial contract ran into problems, often with the mortgage,” said NAR Chief Economist Lawrence Yun in a statement. “The sustained rise in contract activity suggests that closed existing-home sales, which are the important final economic impact figures, should continue to improve in the months ahead.”

Here’s how other competitive housing stocks are trading today:

Comstock Homebuilding Companies Inc. (NASDAQ:CHCI): CHCI shares recently traded at $1.04, up $0.02, or 1.96%. They have traded in a 52-week range of $0.86 to $2.07. Volume today was 18,800 shares versus a 3-month average volume of 23,205 shares. The company’s trailing P/E is 8.74, while trailing earnings are $0.12 per share.

MDC Holdings Inc. (NYSE:MDC): MDC shares recently traded at $17.56, up $0.63, or 3.72%. They have traded in a 52-week range of $14.79 to $32.40. Volume today was 306,781 shares versus a 3-month average volume of 938,884 shares. The company’s trailing earnings are $-2.37 per share.

NVR Inc. (NYSE:NVR): NVR shares recently traded at $680.06, up $13.93, or 2.09%. They have traded in a 52-week range of $554.71 to $804.32. Volume today was 11,068 shares versus a 3-month average volume of 38,862 shares. The company’s trailing P/E is 25.35, while trailing earnings are $26.83 per share.

Hovnanian Enterprises Inc. (NYSE:HOV): HOV shares recently traded at $1.38, up $0.08, or 6.15%. They have traded in a 52-week range of $0.89 to $5.00. Volume today was 1,253,959 shares versus a 3-month average volume of 1,268,400 shares. The company’s trailing earnings are $-2.85 per share.

Beazer Homes USA Inc. (NYSE:BZH): BZH shares recently traded at $2.39, up $0.1, or 4.37%. They have traded in a 52-week range of $1.35 to $6.23. Volume today was 1,093,127 shares versus a 3-month average volume of 2,157,520 shares. The company’s trailing earnings are $-2.77 per share.