Could More Bad Housing News Carry Over to ETFs?

January 24, 2008 at 10:00 am by Tom Lydon      Bookmark and Share

Rain Despite the fact that homebuilder and real estate-related exchange traded funds (ETFs) have been posting decent numbers over the last few days, you can’t help but wonder if the latest round of bad news is going to hurt them a little.

The news this morning was that sales of existing home sales fell in December by the largest amount in 25 years, reports Martin Crutsinger for the Associated Press. The median price for a single-family home dropped by 1.8%, down to $217,000 – the first annual price decline on records going back to 1968. An economist said that it was possible that the country hasn’t seen a decline in prices for an entire year since the Great Depression.

What will this mean for housing and real estate ETFs? As with all else, only time will tell. Among the housing and real estate ETFs are the SPDR S&P Homebuilders (XHB) and the iShares Dow Jones US Real Estate (IYR).

Z_2

Share this post:
  • email
  • Yahoo! Buzz
  • Digg
  • del.icio.us
  • Tipd
  • Reddit
  • StumbleUpon
  • Facebook
  • Technorati
  • Google Bookmarks
  • TwitThis

Tags: , ,

Subscribe to Our Daily E-mail Newsletter

Enter your e-mail address below to sign up for our daily e-mail newsletter, the Daily Market Update. We will never share your e-mail address with third parties.

Subscribe to Our RSS Feed

Click here to subscribe to our RSS feed

  • Treko
    Existing Home Sales vs. last year: -22%

    SRS is the big winner!
blog comments powered by Disqus
Special Report

Recent TV Appearances

Now Available:

The ETF Trend
Following Playbook

ETF Trends' new book is now available. Click here for details. Or order online from one of these bookstores:
Amazon        Barnes and Noble


iMoney

ETF Trends' book iMoney is available. Click here for details. Or order online from one of these bookstores:
Amazon        Amazon