- Beazer Homes (NYSE:BZH) falls 6.8% in early afternoon trading, after new home sales in June hit an eight-month low.
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Mortgage applications fell again this week, with the MBA composite index down 0.2%.
- iShares U.S. Home Construction ETF (BATS:ITB) is down 2.7% and includes holdings in Meritage Homes (MTH -4%), Toll Brothers (TOL -4.4%), D.R. Horton (DHI -3.1%), and Lennar (LEN -3.4%), and KB Home (KBH -3.9%). The ETF is down 4.43% in the past week.
- Other homebuilders that got caught up in the decline: PulteGroup (PHM -4.3%), Hovnanian (HOV -2.5%), and M/I Homes(MHO -3.1%).
- The S&P Homebuilders Select Industry Index -2.2% today, down 5.1% in past five trading days, and has lost 12% YTD.
- ETFs: XHB, PKB, NAIL, HOML, CLAW
- Previously: M/I Homes dips as recent economic reports overshadow strong Q2 (July 25)