A bear case for homebuilders is coming out of the woodwork.
The group has been on a tear in 2019, with the SPDR S&P Homebuilder ETF having its best quarter since 2012, up over 18 percent, and the iShares U.S. Home Construction ETF tacking on a 19 percent gain for the year.
Recent earnings reports from homebuilders Lennar and KB Home provided further fuel for the rally, but weaker-than-expected February housing starts are creating jitters among market watchers.
© 2023 Realty Today All rights reserved. Do not reproduce without permission.