It is not a 2007 redux, but the iShares U.S. Home Construction ETF (NYSE: ITB) and the SPDR S&P Homebuilders ETF (NYSE: XHB) have been sharply outperforming the broader market in recent months.
Over the past 90 days, ITB and XHB are up an average of 4 percent while the S&P 500 is off 5 percent over that period. Homebuilders stocks and these ETFs are being buoyed by strong data. For example, through July, existing home sales climbed for three consecutive months. The S&P/ Case-Shiller National Home Price index rose a seasonally-adjusted 4.5 percent year-over-year in June following a 4.4 percent jump in May.
“S&P Capital IQ expects homebuilder industry revenues to increase 15% in 2015 and 11% in 2016, driven by both price hikes and higher unit sales volume. S&P Capital IQ covers 12 homebuilder stocks, with 9 Buy recommendations and 3 Holds,” said the research ...
/www.benzinga.com/trading-ideas/long-ideas/15/09/5845237/going-home-with-homebuilders-etfs alt=Going Home With Homebuilders ETFs>Full story available on Benzinga.com
More...