March 20, 2013 at 18:10 PM EDT
Homebuilder ETFs Soar On Lennar Q1 Profit Beat
Homebuilder ETFs provided the foundation for Wednesday's stock market rebound after Lennar's (LEN) first-quarter profit beat Wall Street forecasts. Thanks to rock-bottom interest rates and towering rents, new permits for home construction climbed to their highest level since 2008. But they're still a far cry from normal levels and the bubble-era high, presenting plenty of room for improvement. IShares Dow Jones U.S. Home Construction (ITB) climbed
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