Homebuilder ETFs Run On Housing Data (XHB, ITB)

housing1The new home sales data is showing a very mixed bag, with a bit of a positive twist to it. We are seeing a run up in the SPDR S&P Homebuilders (NYSE: XHB) and the iShares Dow Jones US Home Construction (NYSE: ITB) as a result.  March-2009 new home sales came in at a rate of -0.6% down to 356,000 on an annualized basis.  We had consensus estimates pegged at 337,00 from Dow Jones and 330,000 from Bloomberg.  February was given a sharp revision to its already high +4.7% to a higher +8.2%.

Full Story:  http://247wallst.com/2009/04/24/homebuilder-etfs-run-on-housing-data-xhb-itb/

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