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XHB - ITB: Consumer Strength Is Gone. Time To Take Profits
SPDR Series Trust Homebuilders
Source:Pexels
Four months ago, I wrote a long article on the iShares Homebuilder ETF (ITB) called "Homebuilders: An Excellent, Long-Term Value Investment". Since then (June 22nd), ITB has risen from $38 to $45 or about 18.5% in nearly a straight line. Frankly, I expected very strong performance, and the fund still outperformed my expectations. That said, recent economic signals regarding consumer strength and rising mortgage rates indicate that it may be a good time to take profits and decrease exposure to builders.