Can Housing Stocks Keep Climbing?

by Options Sensei

S&P 1500 Homebuilder group at a new 52-week closing high as of last Friday

After a very weak second half of 2018 due to rising mortgage rates, the S&P 1500 Homebuilder group has rallied 35% in 2019 to a new 52-week closing high as of last Friday.  But, recent data suggests that fundamentals don’t warrant continued gains.

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New home sales for May at 626,000 which was 7.8% below expectations

This morning, new home sales for May came in at 626,000 which was 7.8% below expectations and April numbers were also revised downward.

This is a huge… Continue reading at StockNews.com

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