Homebuilders Lower in Early Trading (XHB)
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Homebuilder stocks are down over 1.5 percent in early trading on Monday. The move is an extension of a sell off that began on Friday following the weaker than expected jobs number.
In the past five trading sessions, the homebuilder ETF (NYSE: XHB) is down over 10 percent, but still up 12 percent on the year. Data last week showed a mixed picture for the housing recovery, as home prices continue to slide nationwide despite gains in key markets.
Pulte Group (NYSE: PHM) is down nearly 3 percent so far today. MDC Holdings Inc. (NYSE: MDC) is down 2.75 percent.
In the past five trading sessions, the homebuilder ETF (NYSE: XHB) is down over 10 percent, but still up 12 percent on the year. Data last week showed a mixed picture for the housing recovery, as home prices continue to slide nationwide despite gains in key markets.
Pulte Group (NYSE: PHM) is down nearly 3 percent so far today. MDC Holdings Inc. (NYSE: MDC) is down 2.75 percent.
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