On Friday, new home sales will be reported, and analysts are expecting modest gains from October’s numbers.
“The report doesn’t signal any turns in fortune for the lion’s share of the market–single family homes,” Andrew Wilkinson, chief economic strategist at Miller Tabak said on Financial Times. “Activity there rose by just 10,000 units to a 447,000 annualized pace and the highest in only five months.”
SPDR S&P Homebuilders ETF (NYSEArca: XHB) and iShares Dow Jones U.S Home Construction Index Fund (NYSEArca: ITB) track housing stocks.
SPDR S&P Homebuilders ETF
Tisha Guerrero contributed to this article.