D.R. Horton, Inc. (DHI)

[Stock Trading Guru]

New Home Construction Spending Surges Confirms New Home Sales

Things just got real for DR Horton.

The National Association of Home Builders (NAHB) economist Josh Miller took a dive into the private residential construction spending in the monthly update from the Census Bureau. He found that single family home construction spending is "surging". The NHB also released that single family home construction spending increased by 12.3% for the year.

The NAHB said that the steady increase in single-family construction spending is a reflection of improving market conditions. The single-family market recently experienced the highest pace of new home sales since June 2008.

Folks this is not only awesome news for DR Horton stock but for the entire U.S. economy.

What is driving home sales is falling mortgage rates. Below is an excerpt from the weekly show broadcast every Saturday evening on YouTube where I talk about the big news last week on single family homes construction spending.

You can read the full report I did on DR Horton here: Single Family Homes Construction Spending Surges