Home Builders Remain Constructive
Housing related stocks have outpaced the broader market in 2012 as the new home market continues to recover.
The SPDR S&P Homebuilders ETF (XHB) is up 24% year-to-date compared to a 7% gain for the broader market.
The latest government report on new residential construction came in at 747,000 building permits for March, up 4.5% from February and up 30.1% from March 2011. Housing starts were also strong in March, up 10.3% from March 2011. New Residential Construction data for April 2012 will be released on Wednesday, May 16, 2012, at 8:30 A.M. EDT
Top holdings for XHB include USG Corp, Ryland Group, Mohawk Industries, Masco Corp and Toll Brothers. The expense ratio for the $1.5 billion ETF is 0.35%.
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- ETF MarketPro Staff
May 14, 2012
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