Photo: seanthornburg via flickr
Headline: 13Expectations: 16
Analysis: Last month, the index came in at a 16, so we’ve fallen from that level, if though things were expected to stay flat.
This is the lowest level since September of 2010, according to CNBC.
Rising material costs are hitting home builders, beyond the absence of the demand.
The SPDR Homebuilders ETF was down this morning to start with, and has not responded well to the news. It’s down 1.14% on the day. It has weakened significantly since the start of June.
Have the home builders finally reached a bottom? Or are things about to get worse, dragging down the industry’s big names and ETFs with it?
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