Looking for broad exposure to the Industrials - Engineering and Construction segment of the equity market? You should consider the iShares U.S. Home Construction ETF (ITB), a passively managed exchange traded fund launched on 05/01/2006.
The April release for new home sales from the Census Bureau came in at a seasonally adjusted annual rate of 634,000 units, lower than the 677,000 forecast. New home sales are down 4.7% month-over-month from a revised rate of 665,000 in March and are down 7.7% from one year ago.