Housing ETFs Weak After Home Sales Revised Lower | ETF Trends

Housing exchange traded funds were in the red Wednesday after the National Association of Realtors said U.S. existing home sales rose last month but revised December’s figures significantly lower.

SPDR S&P Homebuilders (NYSEArca: XHB) and iShares Dow Jones U.S. Home Construction Index Fund (NYSEArca: ITB) were down more than 1% on Wednesday after the housing data.

Existing home sales rose to an 18-month high in January. [Housing ETFs Rise with Builder Confidence]

“However, the tenor of the report was weakened somewhat by a sharp downward revision to December’s sales data to show only a 4.38 million-unit rate rather than the previously reported 4.61 million-unit pace,” Reuters reported.