What Is In a Name: SPDR S&P Homebuilders ETF Thursday, October 28, 7:58 AM ET, by Market News Video Staff The SPDR S&P Homebuilders ETF (XHB) seeks to closely match the returns and characteristics of ...
DHI Falls on Weak Outlook Friday, November 12, 2:25 PM ET, by Market News Video Staff D.R. Horton (DHI) shares are falling today after its fourth quarter earnings report. ...
NAHB Data Shows Slight Increase in Builder Confidence Tuesday, November 16, 12:16 PM ET, by Market News Video Staff The National Association of Homebuilders/Well Fargo Housing Market Index showed a slight improvement in builder ...
Existing Homes Sales Fall 2.2% - ITB Falls Similar Amount
By Market News Video Staff, Tuesday, November 23, 12:34 PM ET
Existing homes sales declined 2.2% in October, according to National Association of Realtors data, to a seasonally adjusted annualized rate of 4.43 million units sold. Sales had increased 10% in September. Existing home sales were down 25.9% compared to last year. The national median existing home price was $170,500 in October, down about 1% compared to last year.
Any slowdown in home sales is bad news for the real estate market overall. The iShares Dow Jones U.S. Home Construction Index Fund (AMEX:ITB) is trading lower by about 2% today. Top holdings in the fund include NVR (NYSE:NVR) at 9.22% of the portfolio, followed by D.R. Horton (NYSE:DHI) at 7.89%, and Lennar (NYSE:LEN), at 7.37%.
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