The Wealth Advisor Club Warns Housing Stocks Move Lower Despite Solid Starts

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Negative momentum in the housing sector is driven by weakness in single-family housing starts.

Housing stocks were under pressure on Wednesday despite a better than expected housing starts release, which was reported by the US government on Tuesday.

A recent article published in Wealth Advisor Club suggests that a decline in single-family home construction is masked by the huge jump in multi-family home construction.

According to the article, the Commerce Department released housing starts on Tuesday which showed a climb of 7%, with a 33% rise in multi-family housing starts and a 4% decline in single-family home starts. The disparity is weighing on the home-builder sector, as the broader markets slide. The article also described the price action of the S&P Home Builders ETF which has been under pressure recently.

Later in the week, investors will need to absorb data on existing home sales, which reflects currently build homes. Later in the month new home sales will be released.

The Wealth Advisor Club provides information regarding various sectors in the market they believe are key indicators to market volatility.

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Donald Fawcett
Paramount Digital Publishing
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