The home construction sector traded unanimously higher into record territory in morning trading Tuesday, after data showing a big surprise month-over-month jump in new home sales for May, compared with expectations of a slight decline. The iShares U.S. Home Construction exchange-traded fund ITB powered up 1.9% in morning trading, with all 48 of its equity components trading higher. The ETF (ITB) was trading above its current record closing price of $83.04 set on Dec. 10, 2021. The ITB was up 1.1% just ahead of the new home sales data. Among its more active homebuilder components, shares of D.R. Horton Inc.’s stock DHI jumped 1.7%, Lennar Corp. shares LEN climbed 2.1%, PulteGroup Inc. shares PHM tacked on 1.8% and Toll Brothers Inc.’s stock TOL rose 1.7%, will all four heading for record closes. KB Home’s stock KBH rose 1.6%.
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