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House prices to fall in the West as rising rates and cost of living crisis collide



Home builder, real estate services stocks surge on surprise jump in new home sales

Shares of housing market companies enjoyed a broad rally Friday, after data showing that new home sales surprisingly rose, and sharply, in the face of other signs showing a slowdown in the housing sector. The SPDR S&P Homebuilders ETF rallied 2.9% in morning trading, with all 35 components trading higher. Among the more active home builders, shares of Lennar Corp. hiked up 2.1%, D.R. Horton Inc. rose 1.7% and PulteGroup Inc. climbed 2.1%. Also in the homebuilders ETF, Home Depot Inc.’s stock gai

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