US New Home Sales Hit 1.5-Year High In May Despite Fed's Rate Hikes
Portfolio Pulse from Michael Cohen
US new home sales reached a 1.5-year high in May despite the Federal Reserve's aggressive rate hikes, indicating a rebound in the housing market. This surge could positively impact related ETFs such as XHB and ITB.
June 27, 2023 | 3:51 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The increase in new home sales suggests a positive outlook for the iShares U.S. Home Construction ETF (ITB), despite the Federal Reserve's aggressive rate hikes.
The surge in new home sales indicates a rebound in the housing market, which could lead to a positive impact on the ITB ETF. Despite the Federal Reserve's aggressive rate hikes, the housing market appears to be recovering, which could benefit ITB in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The surge in new home sales suggests a positive outlook for the SPDR S&P Homebuilders ETF (XHB), despite the Federal Reserve's aggressive rate hikes.
The increase in new home sales indicates a rebound in the housing market, which could lead to a positive impact on the XHB ETF. Despite the Federal Reserve's aggressive rate hikes, the housing market appears to be recovering, which could benefit XHB in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80