Hombuilders Trending Lower Following Housing Starts, Building Permits Readings

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Shares of the S&P Homebuilders ETF XHB are trending slightly lower on Tuesday following the worse than expected readings on housing starts and building permits for November.

For the month of November housing starts were 1.028 million vs 1.04 million estimate; down 1.60 percent MoM.
Building permits for November were 1.035 million vs 1.065 million estimate; down 5.20 percent MoM.

Following the data homebuilder stocks are down slightly Tuesday:

Hovnanian Enterprises Inc. HOV -3.2%
D.R. Horton Inc. DHI -0.63%
Toll Brothers Inc. TOL -0.5%
Ryland Group Inc. RYL -0.44%
Lennar Corporation LEN -0.05%

Posted In: NewsConsumer DiscretionaryHomebuilding
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