Down Grade Home Builders
BOSTON (MarketWatch) -- SPDR S&P Homebuilders ETF /quotes/comstock/13*!xhb/quotes/nls/xhb (XHB 18.16, -0.21, -1.16%) was off more than 1% Tuesday morning after the National Association of Home Builders/Wells Fargo housing market index remained unchanged at 16 for the third straight month in January. "At this point, housing remains on the sidelines of a weak economic recovery as consumers and builders wait for clear and consistent indications that jobs and economic output are reviving," said NAHB Chief Economist David Crowe. Beazer Homes USA Inc. /quotes/comstock/13*!bzh/quotes/nls/bzh (BZH 5.78, -0.37, -6.02%) and Meritage Homes Corp. /quotes/comstock/13*!mth/quotes/nls/mth (MTH 23.92, -1.92, -7.43%) were both down more than 5% to lead the decliners in the home-builder sector. UBS downgraded Meritage to sell on valuation, while CRT Capital Group cut Meritage and Beazer to fair value from buy. /marketstate/country/us SPDR S&P Homebuilders ETF Market open XHB /quotes/co