ITB ETF

The 2020-2021 surprise leap in new home sales ignited optimism among homebuilders. The increased sales combined with rising prices made for wonderful earnings and cash flow.

Is the housing market finally starting to show some signs of life? Recently released data certainly seems to point to that.

Ivy Zelman, Zelman & Associates, joins 'Closing Bell Overtime' to talk her top homebuilder plays in the current market.

The fresh tailwind behind homebuilders

The iShares U.S. Home Construction ETF (ITB) was launched on 05/01/2006, and is a passively managed exchange traded fund designed to offer broad exposure to the Consumer Discretionary - Broad segment of the equity market.

For investors seeking momentum, iShares U.S. Home Construction ETF ITB is probably on the radar. The fund just hit a 52-week high and is up 77.45% from its 52-week low price of $71.22/share.

Homebuilder ETFs are expected to gain in the near term as mortgage rates are falling.

Economic indicators are released every week to provide insight into a country's overall economic health. They serve as essential tools for policymakers, advisors, investors, and businesses because they allow them to make informed decisions regarding business strategies and financial markets.

The July release for new home sales from the Census Bureau came in at a seasonally adjusted annual rate of 739,000 units, the highest level in fourteen months. The latest reading came in higher than the 624,000 forecast.