The hesitancy due to higher borrowing costs “will be a temporary bump in the road to housing recovery,” Chief Executive Officer Ara Hovnanian said in the article.
“Home buyers are adjusting to the fact that, while mortgage rates are still quite favorable on a historic basis, the record lows are probably a thing of the past,” NAHB Chairman Rick Judson said.
SPDR S&P Homebuilders ETF
For more information on the housing sector, visit our homebuilders category.
Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own XHB.