“[T]his has not been a good year for the homebuilders or home construction stocks despite the market’s overall strength,” writes Tom Aspray for Forbes.
Builder ETFs sold off for the second straight day on Wednesday with yields on the 10-year Treasury note climbing above 2.7% this week. However, one homebuilder stock bucking the downtrend Wednesday was Hovnanian Enterprises (NYSE: HOV), which was upgraded to buy from neutral at UBS.
iShares US Home Construction
Full disclosure: Tom Lydon’s clients own XHB.