ITB - Is Now the Time to Buy Homebuilding Stocks?
Chaos has subsumed the housing market in 2022. Mortgage rates have shot up at a record pace, recently hitting an average of 7% across the United States. These rate increases have made it increasingly difficult for people to afford a home, which has gotten investors nervous about the prospects of the housing industry over the next few years. The iShares U.S. Home Construction Exchange Traded Fund (NYSEMKT: ITB) is down 38% this year, almost double the 22.8% drop in the S&P 500 over the same time period.
With the homebuilding sector trailing the market in 2022, is now the time to buy the dip on some homebuilding stocks ? Let's investigate.
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Is Now the Time to Buy Homebuilding Stocks?