iShares US Home Construction ETF

ITB

Market cap $2.85B

Mortgage rates just fell to the lowest level since September 2022. At the same time, there's a huge shortage of housing supply.

Despite the sharp drop in sales, home prices continued to climb last month.

Frozen temperatures and high home prices snuffed out the sales momentum from previous months.

It's a bleak start to a year that is expected to be slightly better for the housing market.

Sales of previously owned homes in January dropped a wider-than-expected 8.4% from December. The median price for a home sold in January was $396,800, up 0.9% year over year and the highest January price on record.

Builder stocks are getting a boost from the expectation of a busier spring homebuying season.

Launched on May 1, 2006, the iShares U.S. Home Construction ETF (ITB) is a passively managed exchange traded fund designed to provide a broad exposure to the Consumer Discretionary - Broad segment of the equity market.

Companies are devising a plan for a federally backed ‘rent-to-own' program to help reduce the biggest surplus of homes in many years.

Home sellers outnumber buyers by 47% in largest gap since 2013, creating a buyers market with stronger negotiating power despite affordability issues.

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