The housing slump continued through March, and home-related exchange traded funds (ETFs) reflected this morning’s latest numbers.

The National Association of Realtors said sales of existing single-family homes and condominiums fell by 2% in March. The median price of a home also fell 7.7% from the median one year ago, reports Martin Crutsinger for the Associated Press. It was the second-largest year-over-year price drop; the largest was February’s 8.4% drop.

Sales increased by 2.9% in February, and it had raised hopes that the housing correction had reached the bottom. But analysts don’t think a rebound will happen for months.

Homebuilder and real estate ETFs are down midday. So far this year, most of them are up, some into the double digits:

  • SPDR S&P Homebuilders (XHB), up 17.1% year-to-date
  • iShares Dow Jones US Home Construction (ITB), up 18.1% year-to-date
  • iShares Dow Jones US Real Estate (IYR), up 4.2% year-to-date


The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

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