Lennar added to Watch List
Shares were down 3% over worries about lagging housing market

M2 PRESSWIRE-MARCH 26, 2007-Blue Chip News: Lennar Corp. Added to Bellwether Watch List ©1994-2007 M2 COMMUNICATIONS LTD
Lennar is one of the largest homebuilding, land-owning, loan-making leviathans in the US. The company joins D.R. Horton, Centex, and Pulte Homes in the top tier of US homebuilders. Lennar builds about 49,000 homes annually for first-time buyers, move-up, and active adults in nearly 20 states. Home prices average $315,000. Lennar also provides financial services (residential mortgage, title, and closing services). Lennar markets its homes through its Everything's Included program, in which houses come complete with most top-of-the-line features. CEO Stuart Miller controls some 49% of the company.
Shares were down 3% over worries about lagging housing market.
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Worries about a lagging housing market continue to haunt investors, who on Monday will turn to a report on new-home sales for the latest information about the health of the sector.
The Commerce Department reports on new home sales for February at 10 a.m. EDT.
Analysts are looking for a rise to 995,000 from 937,000 in January, which marked the biggest percentage decline in 13 years.
New-home sales fell 17 percent in January from December. Sales were down in all regions, with the West sliding fastest at 37.4 percent.
On Friday, the National Association of Realtors reported a surprisingly strong 3.9 percent surge in February existing home sales, giving some investors hope that the struggling market could be finding its legs.
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All material herein was prepared by the Bellwetherreport.com, (Bellwether) based upon information believed to be reliable. The information contained herein is not guaranteed by Bellwether to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Bellwether is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. Bellwether may receive compensation in cash or shares from independent third parties or from the companies mentioned.
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