By: Steve Smith
After a very weak second half of 2018 due to rising mortgage rates, the S&P 1500 Homebuilder group has rallied 35% in 2019 to a new 52-week closing high as of last Friday. But, recent data suggests that fundamentals don’t warrant continued gains.
This morning, new home sales for May came in at 626,000 which was 7.8% below expectations and April numbers were also revised downward.
This is a huge… Continue reading at StockNews.com