Shares home builders dropped Monday, after data showing the housing sector was weaker than expected last month. The iShares U.S. Home Construction ETF declined 1.3%, after closing Friday at the highest level of 2016, with 36 of its 41 equity components losing ground. Among the shares of the more-active components, D.R. Horton Inc.’s slumped 1.6%, PulteGroup Inc.’s shed 2.6%, KB Home’s slid 1.9%, Toll Brothers Inc.’s fell 1.7% and Lennar Corp.’s lost 1.3%. Earlier, the National Association of Realtors said existing-home sales plummeted 7.1% in February to an annual rate of 5.08 million, well below expectations for a decline to a 5.3 million rate. Through Friday, the home builder ETF had soared 23% since it closed at a 16-month low on Feb. 11. During that same time, the S&P 500 has rallied 12%.
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