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Actionable news in DHI: D.R HORTON Inc,

Why D.R. Horton (DHI) Stock Is Advancing Today

NEW YORK (TheStreet) -- Shares of D.R. Horton (DHI) are rising by 4.31% to $30.50 in early afternoon trading on Tuesday, as homebuilder stocks rally due to the improvement in new home sales for the month of April.

D.R. Horton is a Fort Worth, TX-based company that acquires and develops land, as well as constructs and sells residential homes.

The Commerce Department announced on Tuesday that new home sales soared year over year by 16.6% to a seasonally adjusted annual rate of 619,000 units.

This is the highest level since January 2008 and the largest percent increase since 1992, Reuters reports. Analysts had estimated for 520,000 units for April.

New home sales...