The Federal Reserve has been raising interest rates this year and mortgage interest rates have been rising as well. This has been having an effect on the affordability of housing. One way to measure the health of the homebuilding industry is to follow the stock market symbol XHB – the SPDR S&P Homebuilders. This is an ETF (exchange traded fund) that one can purchase and track just like a stock. This ETF peaked in late January of this year and has been in decline ever since, although during the past couple of months the XHB price has stabilized. If interest rates stabilize here the market for new homes may stabilize as well. The XHB will tell the story.
Today (Aug 6th) we launched our new web site. Content is almost 100% identical to the older site, but the form is now modern and it automatically resizes to fit whatever device you use to view it. If you have any issues please feel free to send me a message and let me know what we can do to fix any problems or improve the site.