Shares of homebuilders Standard Pacific Corp. (NYSE: SPF) soared 42 cents to close at $1.62, Hovnanian Enterprises (NYSE: HOV) surged 40 cents to close at $2.27 and Beazer Homes USA Inc. (NYSE: BZH) climbed 25 cents to close at $1.50 even as mortgage applications tumbled 11% last week as investors remain hopeful that a recovery is eminent.
Homebuilders Rise
April 15, 2009 at 17:51 PM EDT
