Homebuilding stocks could be losing steam. Though the group outperformed last year, with the SPDR S&P Homebuilders ETF (XHB) and the iShares U.S. Home Construction ETF (ITB) both beating the S&P 500 by about 10 percentage points, pure-play homebuilding stocks are faltering, JC O’Hara, chief market technician at MKM Partners.
After three straight months of record highs, U.S. homebuilder confidence in the single-family housing market pulled back this month. Builders say they are concerned that buyers are starting to experience sticker shock.
The U.K. government has released details of how tradespeople can get involved in its £2 billion ($2.60 billion) “green homes grant” initiative. Announced in July 2020, the scheme will enable landlords and homeowners in England to apply for vouchers to improve the energy efficiency of their homes.