The Census Bureau says that 2.9% of U.S. homes (not including rental properties) were vacant in the first quarter, reports Alan Zibel for the Associated Press. In the fourth quarter of 2007, the percentage stood at 2.8%.
Real estate and homebuilder-related ETFs mostly shrugged off the numbers and held steady in midday trading. Some analysts are predicting quiet markets ahead of the Federal Reserve’s meetings this week, during which a quarter-point rate cut is anticipated.
- SPDR S&P Homebuilders (XHB), up 18.1% year-to-date
- iShares Dow Jones US Home Construction (ITB), up 17.6% year-to-date
- iShares Dow Jones US Real Estate (IYR), up 7.7% 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.