It’s been a rough couple of months for the Real Estate sector. And this has manifested itself through a steep decline in its highly followed ETF (XLRE).
Rising interest rates are putting pressure on the consumer and prospective home buyers.
This has seen the Real Estate ETF (XLRE) slide 13 percent since its July high.
But there might be some relief in sight for XLRE as it nears price support at its March low (see chart below). The decline has been pretty ugly, so any bounce will likely be temporary until a new base can be built.
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$XLRE Real Estate Sector ETF Chart
Twitter: @andrewnyquist
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
