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Homebuilder ETFs jump on strong housing starts data

Homebuilder exchange-traded funds rallied Thursday as economic data confirmed continuing robust demand for newly constructed homes. The Hoya Capital Housing ETF, which has the broadest exposure to residential real estate, gained 1.6% at midday. The iShares U.S. Home Construction ETF was up 1.2%, and the SPDR S&P Homebuilders ETF rose 0.8%. As a reminder that strong demand can sometimes pressure prices uncomfortably upward, the iShares Global Timber & Forestry EF was up 1%. It’s gained over 22% in the past three months. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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