Investors have been given another slug of wanting housing data this week. First it was building permits which surprised to the downside and today it was pending home sales, which fell 4.9% YoY vs expectations of a 1.8% drop. Both building permits and pending home...
Early this week, we noted how the weakness in housing starts was reflected in weaker lumber prices. While many commentators excused the weak housing starts data by blaming the weather (which no doubt affected it to some degree), there was a lone bright spot in...
Mortgage Applications remain weak in the US. The move back up in rates recently would only seem to make this trend continue. US homebuilder stocks look like they will remain under pressure as well....
US homebuilders are back under pressure today as fears over Fed tapering are renewed. Our relative strength point and figure charts show a group that has rolled over and is in the early stages of a downturn. It is quite possible the homebuilders retrace the...
