iShares Residential Real Estate Capped ETF (REZ) - NYSEARCA
  • Jul. 10, 2013, 12:51 PM

    New home contract cancellations (XHB) could jump 19% for sales made in H1 of homes not yet built, says mortgage analyst Mark Hanson, as buyers had yet to lock in rates. Hanson refers back to the ending of the homebuyer credit in 2010 when new home sales cratered 38% in a single month. "It's having a chilling effet on the market," says one realtor of higher rates. Someone previously qualified at $600K might now just be able to afford $550K, he says.

    | Jul. 10, 2013, 12:51 PM | 2 Comments
  • Jul. 10, 2013, 8:46 AM

    "Traffic remains healthy in the face of rising mortgage rates, continuing to push prices higher," leads off a Credit Suisse survey on residential real estate. Buyers now fear "missing out" if they wait and continue to express frustration with low inventory levels. CS' index of buyer traffic edged down to 60.5 in June from 63.4 in May - exceeding expectations for this time of year. The home listings index fell to 61.8 from 67.1. Time needed to sell fell to 75.9 from 81.1. XHB +12.9% YTD.

    | Jul. 10, 2013, 8:46 AM | 4 Comments
  • Jul. 5, 2013, 10:07 AM
    The homebuilders (XHB -1.3%) take today's sharply higher interest rates hard. Lennar (LEN -3.9%), D.R. Horton (DHI -3.3%), Pulte (PHM -3.1%), Toll Brothers (TOL -3.3%).
    | Jul. 5, 2013, 10:07 AM | 1 Comment
  • Jun. 25, 2013, 1:21 PM

    "The housing worm has turned over the past few weeks," says Zillow's Stan Humphries, noting super-tight inventories are easing and interest rates are headed higher. "Runaway appreciation (see Case-Shiller) ... will begin to moderate ... Buyers expecting home values to continue rising at this pace indefinitely may be in for a shock." Up sharply after a big earnings report earlier, Lennar (LEN +0.7%) has eased. The Homebuilders ETF (XHB +1.6%) continues higher though. The U.S. Real Estate ETF (IYR +0.8%).

    | Jun. 25, 2013, 1:21 PM | 1 Comment
  • Jun. 20, 2013, 12:20 PM

    The spike in interest rates will "absolutely not" kill the housing market, says Ivy Zelman, appearing on CNBC. "Wall Street reaction was typical, but the main street reaction will be resilient." Traffic has accelerated the past few weeks, she says, as buyers recognize they can no longer be as "complacent" about rates. Prices could rise another 20% even if mortgage rates head to 6%. The Homebuilders ETF (XHB -3.8%).

    | Jun. 20, 2013, 12:20 PM | 7 Comments
  • Jun. 17, 2013, 10:34 AM
    NAHB Housing Market Index: +8 to 52, vs. consensus of 45.  It's the biggest one-month gain since 2002 and the first time above 50 for the index since April 2006. The reports is consistent with the NAHB forecast of a 29% increase in housing starts this year to more than 1M (first time since 2007), according to the group's David Crowe. XHB +1.5%
    | Jun. 17, 2013, 10:34 AM | 3 Comments
  • May 23, 2013, 10:07 AM

    More on New Home Sales: The March print was revised sharply higher - to 444K from 417K. April sales were 2.3% higher than March and 29% higher than a year ago. The median sales price was $271.6K, the average $330.8K. Inventory stands at 156K, representing a supply of 4.1 months. Homebuilders ETF (XHB -0.4%). (full report)

    | May 23, 2013, 10:07 AM
  • May 16, 2013, 8:38 AM
    SPY -0.3% premarket, giving up small early gains after a big jump in jobless claims and a rather shocking decline in housing starts. Starts were off 16.5% from March, but up 13.1% Y/Y. On a more hopeful note, building permits were up 14.3% from March, up 35.8% Y/Y. Treasurys catch a bid, TLT +0.5% premarket. Homebuilders ETF: XHB -0.2%.
    | May 16, 2013, 8:38 AM
  • May 15, 2013, 10:09 AM
    NAHB Housing Market Index: +3 to 44, vs. consensus of 43; 41 in April. "Builders are noting an increased sense of urgency among potential buyers as a result of thinning inventories of homes for sale." Builders' main concerns have little to do with demand, and remain centered on rising costs and lot shortages. The XHB is flat.
    | May 15, 2013, 10:09 AM
  • May 8, 2013, 3:16 PM

    The bull story on the homebuilders (XHB) still has years to play out, says Steve Eisman, speaking at Ira Sohn under the topic, "Housing: U.S. vs. Canada." He's especially bullish on the land-rich homebuilders - LEN, PHM, SPF - as there's not enough inventory to support demand and land prices will be heading higher, but the purest land play might be Forestar Group (FOR +5.5%), worth $30/share in his opinion.

    | May 8, 2013, 3:16 PM
  • Apr. 30, 2013, 11:27 AM

    Home starts are up by huge amounts in a number of the country's hardest-hit (property-wise) areas, according to an advance look from number-crunchers Metrostudy. More interestingly, builders - without replacement projects to "roll into" - are trying to deliberately slow sales by raising prices. The recent drop in builder confidence, suggests Metrostudy, is more about lot costs and labor shortages than low traffic and sales. XHB -1.1%.

    | Apr. 30, 2013, 11:27 AM
  • Apr. 25, 2013, 3:24 PM

    The Homebuilder ETF (XHB +1.2%) gains after PulteGroup (PHM +5.5%) reported Q1 closings up 23%, with the average selling price up 10%. Meritage Homes (MTH +1.1%) yesterday reported a 17% increase in prices, while Ryland Group (RYL +6.7%) last night said its average price rose 8.2%. "Housing demand is greater than the supply of homes available for sale in many of the areas where we operate," says Meritage CEO Steven Hilton.

    | Apr. 25, 2013, 3:24 PM
  • Apr. 23, 2013, 11:24 AM

    Most notable in the New Home Sales report, says Deutsche, is the convergence of sales with starts. For the last few months starts had raced ahead of sales, but the gap closed in March. Maybe not so great for the builders (XHB +2.4%), it appears as if starts have "caught down" to sales as opposed to the other way around. Investors may still be pricing in too high a rate of sales growth.

    | Apr. 23, 2013, 11:24 AM | 2 Comments
  • Apr. 17, 2013, 2:17 PM

    More from Beige Book: The homebuilders (XHB) might like to know most districts reported strong homebuyer demand with sales being restrained by low inventories. New Jersey noted a "marked reduction" in distressed properties. Home construction is picking up in most districts though tight supplies of building materials are stalling things. The NAHB reported a similar issue.

    | Apr. 17, 2013, 2:17 PM
  • Apr. 16, 2013, 11:29 AM

    Homebuilder stocks aren't taking much encouragement off the bigger number in Housing Starts today, as the underlying data doesn't appear to be strong enough to offset yesterday's drubbing: BZH -0.7%, TMHC -0.2%, HOV -0.2%, DHI +0.9%, KBH +0.5%, PHM +1.6%, LEN +0.9%, TOL +1%. Building materials suppliers on the other hand don't care what kind of homes are being built, and are having a much better day on the news: LII +2.3%, WSO +2%, SHW +3.3%, LPX +3.6%).

    | Apr. 16, 2013, 11:29 AM
  • Apr. 16, 2013, 8:39 AM

    More on Housing Starts: Offsetting the big headline print a bit are building permits, which fell 3.9% vs. forecasts of a 0.3% gain. The gain in housing starts came from multi-family as single-family starts of 619K were off 4.8% from February. S&P 500 futures are just off session highs, +0.9%. Homebuilders ETF: XHB +1.5% premarket.

    | Apr. 16, 2013, 8:39 AM | 1 Comment
REZ Description
The iShares FTSE NAREIT Residential Plus Capped Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the FTSE NAREIT All Residential Capped Index.
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