“Consumer confidence jumped in June, buoyed by an improving job market and income growth, while US homebuilders’ confidence rebounded in June to a nine-month high. The National Association of Home Builders/Wells Fargo builder sentiment gauge rose to 59, the strongest reading since September—exceeding all projections in a Bloomberg survey. High confidence figures set the stage for increased housing demand,” adds Mazza.
The equal-weight XHB mixes stocks such as Tempur Sealy (NYSE: TPX), Williams-Sonoma (NYSE: WSM) and Restoration Hardware (NYSE: RH) with pure play homebuilders such as Lennar (NYSE: LEN) and Toll Brothers (NYSE: TOLL) among others.
Investors have added nearly $312 million to XHB this year.
SPDR S&P Homebuilders ETF
