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Builder sentiment weaker than hoped

  • The iShares DJ U.S. Home Construction ETF (ITB +0.1%) gives back its early gain after a weaker-than-expected report from the National Association of Home Builders shows builder sentiment higher by a point to 47, but falling well short of expectations for 50.
  • Toss the weather into continuing difficulties finding labor and lots, and higher material costs as reasons, says NAHB Chairman (and builder) Kevin Kelly.
  • Index components: Current sales conditions up a point to 52. Buyer traffic up two points to 33. Expectations for the next six months down a point to 53. It's a diffusion index - anything above 50 means more view conditions as good than poor.
  • The more home improvement and supply-related XHB +0.5%.
Comments (3)
  • june1234
    , contributor
    Comments (2499) | Send Message
    Lumber futures going south too, another 6000 layoffs from JPM mortgage depts, first time home buyer mtg apps down from 43 to 27% etc. etc
    17 Mar, 12:28 PM Reply Like
  • Darren McCammon
    , contributor
    Comments (848) | Send Message
    And the reo to rental crowd is actively reducing exposure to the sector. Slowing purchases, selling non-core holdings, floating debt issues or spin-offs, etc.
    17 Mar, 12:34 PM Reply Like
  • mcoll3608
    , contributor
    Comments (2) | Send Message
    Is this a temporary blip down nationwise?
    It's hard to see a slow down, looking from the Houston Metro area. Here it's speed
    ahead. Housing prices are straight up.
    17 Mar, 02:44 PM Reply Like
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