: Homebuilder stocks extend gains after upbeat new home sales data, with multiple stocks at record highs

The home construction sector traded unanimously higher into record territory in morning trading Tuesday, after data showing a big surprise month-over-month jump in new home sales for May, compared with expectations of a slight decline. The iShares U.S. Home Construction exchange-traded fund ITB powered up 1.9% in morning trading, with all 48 of its equity components trading higher. The ETF (ITB) was trading above its current record closing price of $83.04 set on Dec. 10, 2021. The ITB was up 1.1% just ahead of the new home sales data. Among its more active homebuilder components, shares of D.R. Horton Inc.’s stock DHI jumped 1.7%, Lennar Corp. shares LEN climbed 2.1%, PulteGroup Inc. shares PHM tacked on 1.8% and Toll Brothers Inc.’s stock TOL rose 1.7%, will all four heading for record closes. KB Home’s stock KBH rose 1.6%.

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