New Home Sales Hit 5-Year High Despite Cold, Bolsters Homebuilder ETFs
February 26, 2014 at 13:55 PM EST
Despite a frigid winter, the housing market has remained resilient, with new home purchases unexpectedly rising to over a five-year high, reinforcing the home construction sector and related exchange traded funds. The SPDR S&P Homebuilders ETF (NYSEArca: XHB) jumped 3.4% Wednesday while the...