On Wednesday, the U.S. Commerce Department released its housing data which showed sales of single-family homes dropped 14.5 percent in March.
The seasonally adjusted rate of 384,000 sales is the lowest since the summer of 2013 which has some economists worried about weakening demand.
As a result of this negative reading, the iShares U.S. Home Construction ETF (NYSE: ITB) posted a single-day decline of over 1 percent.
This heavily-traded ETF is composed of 34 publicly traded home construction and building materials companies that are heavily influenced by economic data.
The index is market-cap weighted and top holdings include: Lennar Corp (NYSE: LEN), PulteGroup (NYSE: PHM), and D R Horton (NYSE: DHI).
See also: Worrying Housing Market Signs
Combined, these ...
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