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Beazer Homes leads homebuilders' slump on disappointing economic data

Jul. 25, 2018 12:50 PM ETBeazer Homes USA, Inc. (BZH) StockKBH, TOL, PHM, HOV, PKB, DHI, LEN, XHB, MTH, BZH, ITB, MHO, HOML, CLAW, NAILBy: Liz Kiesche, SA News Editor4 Comments
  • Beazer Homes (NYSE:BZHfalls 6.8% in early afternoon trading, after new home sales in June hit an eight-month low.
  • 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)

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