Homebuilder ETF Soars to Pre-Crisis Level on Sales Surprise

June 8, 2020
Claire Ballentine - Bloomberg

The largest homebuilder ETF surged to pre-crisis levels on data showing a surprise increase in sales of new houses last month.

State Street's SPDR S&P Homebuilders exchange-traded fund, ticker XHB, rallied as much as 4.6% to the highest level since March 6. Purchases of single-family houses in the U.S. unexpectedly climbed in April after sales dropped the most since 2013 in March, when much of the U.S. economy shut down to stem the spread of coronavirus.



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