Homebuilders

The broader economy added 150,000 positions, a number the bond market initially read as likely to soften rates, but some economists interpreted differently.

The transactions grew between second and third quarter, with the new-home market seeing one of its largest surges in cash-buying in 13 years.

The company's builder and mortgage banking segments both ended up in the black, as sales for new constructions outperform the existing-home market.

Homebuilder sentiment fell to a nine-month low in October, the latest indication of the toll on residential real estate from soaring mortgage rates and declining affordability.

Analysts say major single-day declines are historically attractive entry points for builders. Homebuilding stocks have only seen 55 instances of single-day declines of more than 5% since the global financial crisis, according to the firm. 

On average since 1970, new home sales volumes decline 7% month-over-month in September and 13% quarter-over-quarter in the final months of the year, according to analysts. 

The National Association of Home Builders/Wells Fargo gauge declined 5 points to 45 after sliding 6 points a month earlier. That marked the largest back-to-back decrease in nearly a year.

Loan applications for single-family constructions jumped for the seventh month in a row, with increasing interest coming from first-time buyers, according to the Mortgage Bankers Association.

Decreased availability of bank capital for new commercial construction helped slow activity from the previous nine quarters, according to a new report.

Purchases of new single-family homes increased 4.4% to an annualized 714,000 pace after downward revisions to prior months, government data showed Wednesday.