Barclays: XHB Range Bound

Published on Monday, 07 June 2010 13:39 Written by Christopher Lynn

New York, June 7^th (TradersHuddle.com) – The Homebuilders Spider (NYSE:XHB) is trading lower by 1.22% to $15.84.

According to Barclays, investors in the housing sector will remained focused on the impact of the government’s tax credit expiration.

With few data to be released in the next days, the analysts at Barclays expect the home builder stocks and the builder ETF (NYSE:XHB) to be range bound, as there will be continuing questions on the relative impact the tax credit had on driving sales. Barclays, however continues to believe that sales will necessary pullback temporarily as the tax credit expired, but that its impact on annual sales will not be as much as other analysts and economist have expected.