Housing stocks are surging after data shows new home construction jumped in March
A $1.6 billion gauge of homebuilding stocks jumped on Tuesday after data showed a monthly increase in construction of new homes, a potential sign of stabilization in a housing market that's struggled from the blow of rising interest rates.rose 2.2% to 72.63, the highest since early February when the index recorded a near one-year high at 73.90. 2.
The ETF and housing starts data have tended to track each other over the past ten years. But in December 2021, ITB peaked five months before the peak in housing starts. The ITB ETF, which carries more than $1.6 billion in assets, has gained roughly 18% during 2023, outperforming the
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