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It's the midway point of a housing report trifecta this week and investors are apparently into the mood to pummel the housing sector in response.
Yesterday, the Standard & Poor's/Case-Shiller National Home Price index said that home prices plummeted a record 19.1% in the first quarter. Today, the National Association of Realtors reported that while existing home sales grew 2% in April, home prices continued to fall and unsold home inventory grew. Tomorrow morning, the Commerce Department will weigh in with their new home sales figures.
A quick survey of housing-related stocks shows that most were hurting in the afternoon. ...
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