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19

Homebuilding Stocks’ Ties to U.S. Housing Starts Broken for Once

By Tony Seruga

Dow Jones index rises in face of 11% decline in October starts
Bespoke finds near-perfect correlation between them since 2007

Shares of U.S. homebuilders may need a rebound in housing starts to sustain their latest gains, if history is any guide.

The chart below tracks the relationship between the Dow Jones U.S. Select Home Construction Index and the annual rate of starts, as compiled monthly by the Commerce Department, since 2005. Bespoke Investment Group LLC provided a similar chart in a blog posting two days ago, before the department’s release of October data…

Homebuilding Stocks’ Ties to U.S. Housing Starts Broken for Once

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