Home Builders' Stock Sales: Diversifying or Bailing Out?
Shedding Shares
Now they are cashing in. Executives and directors at many of the nation's largest development companies sold stock at a record pace this summer. Insiders at the 10 largest home builders by market value, including D. R. Horton, KB Home, Toll Brothers and M.D.C. Holdings, have sold nearly 11 million shares, worth $952 million, so far this year. That is a huge jump from the 6.8 million shares, worth $658 million, that insiders sold during all of last year, according to data compiled by Thomson Financial. Market specialists often view heavy stock sales by corporate insiders as a possible indicator that share prices are headed lower. Some analysts say that the share sales by home builders are reminiscent of the heavy dumping of stock by technology company executives just before the technology bubble burst in 2000.  See related article 8/7/05: KB Home Stock Down $10.95 – Foreclosures are up - FTC & HUD’s Flood of Complaints Prompts Investigations

Texas home foreclosures decreased in April
(05/06/2005 Â©  Austin Business Journal )
 In Texas, 3,481 new residential Foreclosures were listed for sale as of the end of April -- bringing the state's total number of foreclosed properties to 9,266 for the year through April. At the end of March, 3,645 new homes put  up for sale because of foreclosures. The number of U.S. foreclosed homes reached 76,786 during the first four months of this year.