Dive Brief:

• Publicly traded homebuilders have rallied on Wall Street over the past week as good news about the industry pours in.

• As of Tuesday — a day after the National Association of Home Builders announced a spike in homebuilder confidence about the near future of the single-family sector — the 13-builder Standard and Poor’s Supercomposite Homebuilding Index had climbed seven of the last eight days, Bloomberg Business reported.

• After a Tuesday report by the Commerce Department confirming that new-home construction starts climbed in July to their highest level in nearly eight years, analysts suggested that homebuilders could remain Wall Street’s darling at least for the rest of the week.

Dive Insight:

The homebuilding group’s “bearish-to-bullish reversal” comes at a time when Wall Street’s usual “bulls” — biotechnology and media stocks — are struggling, the Bloomberg report noted. It’s "real estate to the rescue of a U.S. bull market whose foundations have been weakening," Anna-Louise Jackson, a political reporter and analyst for Bloomberg, wrote on Tuesday.

One analyst told Bloomberg: “The balance of evidence suggests that the key corner has been turned in the U.S. new-home market.” Another added: “We’re starting to see the recovery move from Wall Street to Main Street.”

Aside from the two positive reports this week, that evidence includes an uptick in sales of new homes of nearly 21% in the first two quarters of 2015 when compared with the same time period last year. The U.S. Commerce Department will release the July numbers on Aug. 25.

Overall economic progress — including employment gains that enable more consumers to become first-time homebuyers — also are contributing to the rally, Bloomberg noted.