ETF Trends
05-07-2008, 05:20 PM
ETF Trends - Keeping a Grip on Exchange Traded Funds (ETFs)
http://www.etftrends.com/images/2008/05/07/houseforsale.jpg (http://etftrends.typepad.com/photos/uncategorized/2008/05/07/houseforsale.jpg) Homebuilding and real estate exchange traded funds (ETFs) reeled from the news that pending home sales hit a new low in March.
It was the second consecutive months in which a new low was hit, reports David Goldman for CNN Money (http://biz.yahoo.com/cnnm/080507/050708_pending_home_sales.html). The reading was down 20.1% from March 2007, and 35% from the index's high in April 2005.
The Pending Home Sales Index is seen as a more forward-looking indicator of home sales than other real estate forecasts because they're measured a month or two before a sale actually closes.
For existing home sales, the numbers were slightly better: instead of the predicted 14.5% decline, the projections are now for a 14.4% decline. It's a case of taking the good news where you can get it. The actual figures will be released on May 23.
Among the related ETFs affected by the news:
SPDR S&P Homebuilders (XHB (http://finance.yahoo.com/q?s=xhb)): up 18.6% year-to-date
iShares Dow Jones US Home Construction (ITB (http://finance.yahoo.com/q?s=itb)): up 18.9% year-to-date
iShares FTSE NAREITH Real Estate 50 (FTY (http://finance.yahoo.com/q?s=fty)): up 9.7% year-to-date
DJ Wilshire REIT (RWR (http://finance.yahoo.com/q?s=rwr)): up 11.4% year-to-datehttp://www.etftrends.com/images/2008/05/07/z_5.png (http://etftrends.typepad.com/photos/uncategorized/2008/05/07/z_5.png)
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/285596143/real-estate-hom.html)
http://www.etftrends.com/images/2008/05/07/houseforsale.jpg (http://etftrends.typepad.com/photos/uncategorized/2008/05/07/houseforsale.jpg) Homebuilding and real estate exchange traded funds (ETFs) reeled from the news that pending home sales hit a new low in March.
It was the second consecutive months in which a new low was hit, reports David Goldman for CNN Money (http://biz.yahoo.com/cnnm/080507/050708_pending_home_sales.html). The reading was down 20.1% from March 2007, and 35% from the index's high in April 2005.
The Pending Home Sales Index is seen as a more forward-looking indicator of home sales than other real estate forecasts because they're measured a month or two before a sale actually closes.
For existing home sales, the numbers were slightly better: instead of the predicted 14.5% decline, the projections are now for a 14.4% decline. It's a case of taking the good news where you can get it. The actual figures will be released on May 23.
Among the related ETFs affected by the news:
SPDR S&P Homebuilders (XHB (http://finance.yahoo.com/q?s=xhb)): up 18.6% year-to-date
iShares Dow Jones US Home Construction (ITB (http://finance.yahoo.com/q?s=itb)): up 18.9% year-to-date
iShares FTSE NAREITH Real Estate 50 (FTY (http://finance.yahoo.com/q?s=fty)): up 9.7% year-to-date
DJ Wilshire REIT (RWR (http://finance.yahoo.com/q?s=rwr)): up 11.4% year-to-datehttp://www.etftrends.com/images/2008/05/07/z_5.png (http://etftrends.typepad.com/photos/uncategorized/2008/05/07/z_5.png)
complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/285596143/real-estate-hom.html)