div > div.group > p:first-child"> The group has been on a tear in 2019, with the SPDR S&P Homebuilder ETF having its best quarter since 2012, up over 18 percent, and the iShares U.S. Home Construction ETF tacking on a 19 percent gain for the year.
"The one thing that really concerns me is in the new housing numbers," Michael Bapis, managing director of Vios Advisors at Rockefeller Capital Management, told CNBC on Wednesday."They were down 8 percent in February, which is the worst it's been in eight months, so we're taking our profits in this space."
"[The sector has] run up significantly, roughly 30 percent in the last quarter and annually, so I would just take our profits, sit back, wait 'til the summer shakes out and then see what happens in the fall," Bapis said. "The strategist in me [is] concerned about the housing starts number from the other day," he said in the"Trading Nation" segment."If that continues to fall, we've got a problem, because every time you've seen a sustained decline in housing starts, it's always followed by a recession, going back to the 1960s. However, on the technical side, it looks quite good.
Home builders demanding livable wages?
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