Bulletin
Investor Alert

London Markets Open in:

Market Pulse Archives

May 24, 2022, 10:25 a.m. EDT

Home builder stocks suffer unanimous selloff after disappointing new home sales data

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    iShares U.S. Home Construction ETF (ITB)
  • X
    SPDR S&P Homebuilders ETF (XHB)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

The home builder sector was suffering a unanimous selloff in morning trading Tuesday, after data showing new home sales surprisingly fell in April, and sharply, amid high prices, rising mortgage rates and low supply. The iShares U.S. Home Construction ETF /zigman2/quotes/203468436/composite ITB -0.49% sank 3.4%, with all 47 equity components losing ground, while the SPDR S&P Homebuilders ETF /zigman2/quotes/202739297/composite XHB +0.31% dove 3.4% with all 35 components falling, to underperform the S&P 500's /zigman2/quotes/210599714/realtime SPX -0.16% 2.1% slide. Both ETFs were on track for the lowest closes since January 2021. Among some of the more-active home builders, shares of D.R. Horton Inc. /zigman2/quotes/202032328/composite DHI -0.46% shed 3.7%, PulteGroup Inc. /zigman2/quotes/201694804/composite PHM -0.56% fell 4.5%, KB Home /zigman2/quotes/206220859/composite KBH +0.03% slid 4.1% and Lennar Corp. /zigman2/quotes/202536373/composite LEN -0.78% gave up 4.0%. Elsewhere, share of home improvement retailer Home Depot Inc. /zigman2/quotes/208081807/composite HD +0.82% declined 1.5%

/zigman2/quotes/203468436/composite
US : U.S.: Cboe BZX
$ 60.46
-0.30 -0.49%
Volume: 3.54M
Aug. 5, 2022 4:00p
loading...
/zigman2/quotes/202739297/composite
US : U.S.: NYSE Arca
$ 64.12
+0.20 +0.31%
Volume: 2.86M
Aug. 5, 2022 4:00p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,145.19
-6.75 -0.16%
Volume: 2.22B
Aug. 5, 2022 5:04p
loading...
/zigman2/quotes/202032328/composite
US : U.S.: NYSE
$ 76.35
-0.35 -0.46%
Volume: 2.07M
Aug. 5, 2022 4:00p
P/E Ratio
4.90
Dividend Yield
1.18%
Market Cap
$26.53 billion
Rev. per Employee
$2.71M
loading...
/zigman2/quotes/201694804/composite
US : U.S.: NYSE
$ 42.38
-0.24 -0.56%
Volume: 1.51M
Aug. 5, 2022 4:04p
P/E Ratio
4.72
Dividend Yield
1.42%
Market Cap
$9.81 billion
Rev. per Employee
$2.42M
loading...
/zigman2/quotes/206220859/composite
US : U.S.: NYSE
$ 31.70
+0.01 +0.03%
Volume: 911,820
Aug. 5, 2022 4:00p
P/E Ratio
4.34
Dividend Yield
1.89%
Market Cap
$2.76 billion
Rev. per Employee
$2.79M
loading...
/zigman2/quotes/202536373/composite
US : U.S.: NYSE
$ 84.73
-0.67 -0.78%
Volume: 2.32M
Aug. 5, 2022 4:00p
P/E Ratio
5.80
Dividend Yield
1.77%
Market Cap
$24.03 billion
Rev. per Employee
$2.52M
loading...
/zigman2/quotes/208081807/composite
US : U.S.: NYSE
$ 309.69
+2.52 +0.82%
Volume: 2.03M
Aug. 5, 2022 4:00p
P/E Ratio
19.66
Dividend Yield
2.45%
Market Cap
$318.29 billion
Rev. per Employee
$310,976
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.