Buyers Are Backing Away, and Homebuilder ETFs Are Next in Line
U.S. new-home sales plunged 10.5% in July as mortgage rates neared 7%. Here’s what weakening housing demand means for XHB, ITB and other ETFs.
Fewer people are buying new homes because borrowing money got more expensive, which could mean homebuilder companies will sell less and earn less profit. When you look at homebuilder funds like XHB, watch if the companies inside them say business is slowing down.
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