The Ryland Group (RYL)

[chmcnfunds]

Sector Snap: Homebuilder stocks trade higher
August 15, 2013

NEW YORK (AP) — Shares of homebuilders rose Thursday as an analyst maintained an optimistic view on a recovery in the housing market.

The stocks shrugged off a decline in the broader market, as the S&P 500 slipped 1.4 percent to 1,662 in afternoon trading. Analyst Jay McCanless said around 836,000 new homes are expected to be started this year, and starts will climb over the next few years as unemployment decreases.

"We anticipate the current housing recovery should peak in 2015 with total housing starts of 1.3 to 1.4 million that year," he said. McCanless says Ryland Group Inc. and Meritage Homes Corp. are his top picks in the sector. He rates both stocks at "Buy,"
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RYL