SPDR Homebuilders ETF (XHB) - NYSEARCA
  • Dec. 4, 2012, 7:50 AM

    Though the blowout numbers kind of speak for themselves, Robert Toll makes the bullish case for homebuilders in Toll's (TOL) earnings report: He notes a Harvard study showing household formations 1.8M-2.8M less than what would have been expected given population growth since 2007. Recent trends show these formations are starting to catch up. New homes built in 2012 will be about 750K, about half of what's needed to keep up with formations.

    | Dec. 4, 2012, 7:50 AM | 3 Comments
  • Nov. 30, 2012, 3:42 PM

    One question comes to mind while perusing a report of Goldman Sachs recommending to clients they get long various ABX indexes for 2013: Is John Paulson taking the other side of the trade? Seriously though, as it eyes the housing recovery, Goldman is finding more value in the ABX than in shares of homebuilders which have about doubled this year.

    | Nov. 30, 2012, 3:42 PM | 1 Comment
  • Nov. 28, 2012, 12:22 PM
    On pace to increase 18% over last year, new home sales in 2012 will still be the 3rd lowest on record (since 1963), surpassing 2010 and 2011, but falling short of 2009, writes Bill McBride. Most of the increased housing activity since the bust has been existing home sales (think "distressed"). Have surging homebuilder stocks gotten ahead of themselves or is there a lot more room to run?
    | Nov. 28, 2012, 12:22 PM
  • Nov. 28, 2012, 11:35 AM

    The homebuilders (XHB -0.6%) have recovered most of a steep drop following the weak New Home Sales print, but BarCap's Cooper Hawes says the pace of sales needs to pick up to continue to upward trend in housing starts. "We expect start activity gradually to plateau unless sales activity increases."

    | Nov. 28, 2012, 11:35 AM
  • Nov. 20, 2012, 11:10 AM

    Homebuilder sentiment isn't just another wonky number with no predictive ability. It's had a nearly exact correlation with housing starts over the last decade, notes Joe LaVorgna, and the latest print says starts are headed far higher. XHB +50.5% YTD.

    | Nov. 20, 2012, 11:10 AM
  • Nov. 7, 2012, 1:14 PM

    Boding well for the economy, the U.S. added 1.15M households in the year ending in September, according to the Census Bureau - way higher than the 650K average over the previous 4 years. "In the depths of the recession, 3 households would turn into one, says Ara Hovnanian (HOV). "We've been waiting for this unbundling ... Demographics is destiny."

    | Nov. 7, 2012, 1:14 PM | 3 Comments
  • Oct. 17, 2012, 9:06 AM

    Several homebuilders get downgraded at Raymond James, among them TOL, MDC, and RYL. All three - along with the rest of the sector - are showing solid premarket gains, however, as the strong housing starts number controls the tape. XHB +2.1% premarket.

    | Oct. 17, 2012, 9:06 AM | 1 Comment
  • Oct. 15, 2012, 10:30 AM
    Bill Miller's back and housing bulls may take comfort or caution. The man who beat the S&P forever until one year he didn't and then lost most of his investors' money is up 29% this year and beating 99% of his peers by concentrating his fund's assets in homebuilders and others who would benefit from a housing rebound.
    | Oct. 15, 2012, 10:30 AM
  • Oct. 10, 2012, 11:45 AM

    "What is perceived in the market is not necessarily reality," says Ivy Zelman of the generalization that "nobody can get a mortgage." In a highly bullish presentation on the housing market, she says the facts don't square. First off, 57% of Americans have credit scores above 700. Second, credit standards are getting easier again, with even 580 scores high enough to qualify.

    | Oct. 10, 2012, 11:45 AM | 4 Comments
  • Sep. 28, 2012, 2:38 PM
    The run-up, collapse, then run-up in the homebuilder stocks (XHB, ITB) from 1999-2012 bears a startling resemblance (charts) to the run-up, collapse, then run-up in tech from 1994-2007, notes RBS. The question now becomes if the homebuilders will follow the lead of tech from 2007-09, which was down again.
    | Sep. 28, 2012, 2:38 PM | 2 Comments
  • Sep. 27, 2012, 10:17 AM

    "There's a sense of recession fatigue," says KB Home's (KBH) Chris Cady, whose firm is seeing a 24% increase in the size of homes it's selling in real estate-scarred Sacramento. "Affordability is a key driver," he says. "I did all the pop-outs I could," boasts one buyer.

    | Sep. 27, 2012, 10:17 AM | 2 Comments
  • Sep. 26, 2012, 3:57 PM

    Home builders (XHB -2.5%) have been selling off amid the surprise slight decline in new home sales last month. MFR isn't buying into the housing recovery mantra, believing it will be "quite some time" before seeing sustained strength, owing to continued intense competition from a huge overhang of existing homes. HOV -5.6%, SPF -5.3%, PHM -4.7%.

    | Sep. 26, 2012, 3:57 PM | 1 Comment
  • Sep. 25, 2012, 7:57 AM

    A group of homebuilders gets a downgrade from previously bullish Barclays, which says a lack of large cap ways of playing the sector has driven prices on the stocks to overvalued levels. Getting touched: TOL, LEN, DHI. Homebuilder ETF: XHB -1.1% premarket.

    | Sep. 25, 2012, 7:57 AM
  • Sep. 24, 2012, 1:13 PM

    Homebuilders slip despite a strong report from Lennar (LEN -2%) earlier today. MarketWatch's Sam Mamudi warns that much of the sector has already had a huge bounce, and with a slew of housing data due out this week, most of it is second-tier stuff and already baked into share prices, so we could be in for some heavy profit-taking on some of the bigger movers in the sector: TOL-1%, DHI -1.7%, HOV -1.3%, PHM -1.3%. ETFs: XHB -1.2%, ITB -1.4%.

    | Sep. 24, 2012, 1:13 PM | 1 Comment
  • Sep. 19, 2012, 6:25 PM
    Home builders (XHB +1.8%) ranked among today's top gainers on surging single-family housing starts and existing home sales rising at the highest pace since the first-time homebuyer tax credit artificially sparked sales in mid-2010. But hold the champagne; a Harvard analyst still sees single-family starts rising only to ~1M, "not even half-way back to where we should be in terms of long-term trends."
    | Sep. 19, 2012, 6:25 PM
  • Sep. 8, 2012, 9:38 AM

    After a 72% Y/Y rise in the XHB, the housing recovery rates the cover at Barron's. "We're in the early stages," says Lennar (LEN) President Rick Beckwith. The industry could triple in size to 1.8M housing starts in the next 3-4 years, says Ivy Zelman, who thinks Lennar could earn $5.30/share in FY15 vs. $0.48 last year. A more speculative play is Beazer (BZH), which isn't yet profitable, but has eased short-term liquidity fears with recent capital raises.

    | Sep. 8, 2012, 9:38 AM | 57 Comments
XHB Description
The SPDR® S&P® Homebuilders ETF, before expenses, seeks to closely match the returns and characteristics of the S&P Homebuilders Select IndustryTM Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
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