{"id":30260,"date":"2015-08-30T01:19:08","date_gmt":"2015-08-30T08:19:08","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=30260"},"modified":"2015-08-30T01:19:08","modified_gmt":"2015-08-30T08:19:08","slug":"a-time-to-buy-housing-stocks-ishares-us-home-construction","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2015\/08\/30\/a-time-to-buy-housing-stocks-ishares-us-home-construction\/","title":{"rendered":"A Time to Buy Housing Stocks: iShares US Home Construction"},"content":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on August 27, 2015. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

When I wrote “A Time To Sell Some Housing Stocks<\/a>,” I could not have come close to imagining its timeliness. The current market sell-off since then has been so deep and rapid that I have accelerated my plans to put cash back to work.<\/p>\n

The first candidate is iShares US Home Construction (ITB). I missed the big plunge on Monday, August 24th as I was busy chasing down other opportunities<\/a>. I did not hesitate to start loading up the next day when ITB fell to a new low for the current selling cycle. <\/p>\n


\n
\"iShares<\/a>
iShares US Home Construction (ITB) attempts to hold onto support at its 200-day moving average (DMA)<\/figcaption><\/figure>
\nSource: FreeStockCharts.com<\/a><\/strong>
\n<\/center><\/p>\n

{snip}<\/p>\n

I found some level of comfort in my earlier than anticipated repurchase of ITB from the new home sales data. {snip}<\/p>\n


\n
\"Sales<\/a>
Sales of new single-family homes have remained strong in 2015 but have yet to resume the uptrend in place since the 2010\/2011 trough<\/figcaption><\/figure>
\nSource: US. Bureau of the Census, New One Family Houses Sold: United States [HSN1F], retrieved from FRED, Federal Reserve Bank of St. Louis<\/a>, August 27, 2015.<\/strong>
\n<\/center><\/p>\n

Year-over-year and monthly sales were strong across three out of four regions. {snip}<\/p>\n

The most interesting part of the report came from the distribution of sales across price ranges. The June report showed a surprising relative surge of sales in the $200,000 to $299,000 range to 40% of all homes. This share dropped all the way to 32% in the July report which puts the share back within the 30 to 35% range that has held for quite some time. {snip}<\/p>\n

Note well that I did not buy ITB here because I am certain a final bottom is now in the rear view mirror. The stock market seems sure to exhibit a lot more volatility in coming weeks<\/a> and perhaps months. {snip}<\/p>\n

Be careful out there!<\/p>\n

Full disclosure: long call options on ITB<\/p>\n

(This is an excerpt from an article I originally published on Seeking Alpha on August 27, 2015. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on August 27, 2015. Click here to read the entire piece.) When I wrote “A Time To Sell Some Housing Stocks,” I could not have come close to imagining its timeliness. 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