Sales of U.S. new homes came in better than expected in April, up 6.8 percent month-over-month to a seasonally adjusted annual rate of 517,000. Monthly numbers tend to be volatile. The 12-month rolling total was 5.66 million in the month … Continued
Back on April 23rd, I wrote a piece on U.S. housing for See It Market (reposted here on 24th), arguing the importance of $26, and then $24, on the Home Construction ETF (ITB). The ETF ($26.32) closed at $27.45 on April … Continued
This week is perfect to be discussing U.S. housing dynamics as the March sales numbers for existing and new homes were just published. The report was mixed. Sales of existing homes rose 6.1 percent to an annual rate of 5.19 … Continued
U.S. household formation surges 1.8mn in four months to December Homebuilder sentiment drops to four-month low in Dec, but stays elevated ITB priced for reversal in years-long trend of renting versus owning – not a base case There are good … Continued
U.S. home builder sentiment chirpy, near multi-year highs Just a matter of time before sentiment follows home sales/starts lower Stocks follow builder sentiment; ITB perilously close to breaking crucial support Hope springs eternal. U.S. home builders are an optimistic bunch. … Continued