US existing home sales fell -34% y-o-y in December
U.S. existing home sales (i.e. sales when a contract is closed) fell -1.5% from November and -34% year-over-year to a seasonally adjusted annual rate of 4.02 million in December, the lowest level since November 2010. Home resales, which account for a significant share of U.S. housing sales, were down -34.0% on a year-on-year in December.
December marked the 11th consecutive month of home sales decrease --and the longest such stretch since 1999, as indicated in the National Association of Realtors data. For the year 2022, sales plunged -17.8%, biggest annual decrease since 2008, as last year’s rising interest rate environment dampened residential real estate market.
The median existing-home sales price rose +2.3% from a year ago to $366,900.
IYR in +0.59% Uptrend, advancing for three consecutive days on June 01, 2023
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where IYR advanced for three days, in of 351 cases, the price rose further within the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 54 cases where IYR's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
IYR may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on June 01, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on IYR as a result. In of 90 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for IYR turned negative on May 15, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 45 similar instances when the indicator turned negative. In of the 45 cases the stock turned lower in the days that followed. This puts the odds of success at .
IYR moved below its 50-day moving average on May 16, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for IYR crossed bearishly below the 50-day moving average on May 23, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where IYR declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for IYR entered a downward trend on June 01, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category RealEstate
IYR and
Correlation & Price change
A.I.dvisor indicates that over the last year, IYR has been closely correlated with VNQ. These tickers have moved in lockstep 100% of the time. This A.I.-generated data suggests there is a high statistical probability that if IYR jumps, then VNQ could also see price increases.
| Ticker / NAME | Correlation To IYR | 1D Price Change % | ||
|---|---|---|---|---|
| IYR | 100% | +0.06% | ||
| VNQ - IYR | 100% Closely correlated | +0.01% | ||
| SCHH - IYR | 100% Closely correlated | N/A | ||
| FREL - IYR | 100% Closely correlated | +0.08% | ||
| XLRE - IYR | 100% Closely correlated | +0.03% | ||
| ICF - IYR | 99% Closely correlated | +0.17% | ||
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