Boston, MA 06/26/2013 (wallstreetpr) – The United States had obtained some promising positive reports in the sectors of business investments, housing and consumer confidence which had boosted the investor confidence in the housing sector companies. It had been reported that the rate of new home sales would increase to seasonally adjusted volume of 460,000 numbers in May compared to the volume of 454,000 numbers in April 2013. It had also been expected by the economists that the Case Shiller home price index would surge by 1.5 percent in April.
Further positive economic data related to the housing sector reports that the housing prices would increase by 10.90 percent in all the 20 cities that are covered by the home price index. In addition, the Federal Housing Finance Agency’s index on housing prices is also expected surge by 1.2 percent.
All such data had led the share prices of Lennar Corporation (NYSE:LEN) to gain by 0.69 percent to obtain a closing price of $35.23 per share on Tuesday, with the surge in prices being primarily attributed to the surge in housing markets. The shares of the company had recorded intraday price movements in the range of $34.80 to $36.94 per share for the trading session on Tuesday, after opening at $36.59 per share. The shares of Lennar Corporation (NYSE:LEN) had recorded 52 week high price level at $44.40 per share and 52 week low price level at $25.79 per share.
The shares of Lennar Corporation (NYSE:LEN) had been witnessing heavy trading volumes on Tuesday with nearly 21.75 million shares being exchanged for the full trading session, while the average trading volume had been generally at 6.17 million shares per day for the company. Lennar Corporation (NYSE:LEN) presently operates with 89 percent institutional ownership of its holdings, while the company has 192.39 million shares outstanding in the market.