News Formal

Housing stocks rally suggests stabilization coming to housing market

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 51%

Business News News

Housing stocks are surging after data shows new home construction jumped in March

A $1.6 billion gauge of homebuilding stocks jumped on Tuesday after data showed a monthly increase in construction of new homes, a potential sign of stabilization in a housing market that's struggled from the blow of rising interest rates.rose 2.2% to 72.63, the highest since early February when the index recorded a near one-year high at 73.90. 2.

The ETF and housing starts data have tended to track each other over the past ten years. But in December 2021, ITB peaked five months before the peak in housing starts. The ITB ETF, which carries more than $1.6 billion in assets, has gained roughly 18% during 2023, outperforming the

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

IBM said to need 'nearly pristine' earnings report to protect its stockFor IBM Corp., earnings need to be "nearly-pristine" when Big Blue reports after the close on Wednesday, while Wall Street focuses on free-cash flow.
Source: MarketWatch - 🏆 3. / 97 Read more »