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April 23, 2021, 10:09 a.m. EDT

Homebuilder ETFs jump on strong new-home sales data

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By Andrea Riquier

Exchange-traded funds with exposure to homebuilders, home renovation companies, and the residential real estate industry rallied Friday after a stronger-than-expected new-home sales report. Sales ran at a seasonally adjusted annual 1.02 million rate in March, the Commerce Department said. The SPDR S&P Homebuilders ETF /zigman2/quotes/202739297/composite XHB -0.24% gained 0.5%, and the iShares U.S. Home Construction ETF /zigman2/quotes/203468436/composite ITB +0.67% was up 0.3%. The Hoya Capital Housing ETF rose 0.1%. ETFs in this sector have surged since the start of the year, as the housing market stays hot and interest rates manageable for would-be buyers. XHB is up nearly 29% in 2021, and ITB has gained 28%.

US : U.S.: NYSE Arca
$ 80.13
-0.19 -0.24%
Volume: 3.44M
Dec. 1, 2021 4:10p
US : U.S.: Cboe BZX
$ 76.08
+0.51 +0.67%
Volume: 4.10M
Dec. 1, 2021 4:00p

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