As Housing Market Improves, Forget Homebuilders and Watch Home Improvement Sector Instead
Posted on November 28, 2012 at 13:26 PM EST
MINYANVILLE ORIGINAL Tuesday’s October New Home Sales report generally confirmed that the housing market is improving. October sales followed a sharp rise in September (Sept. = up 5.7% to 389 000). The September and October reports also show that supply is very tight and actually is limiting sales. The improvements in the housing data coupled with the delay of implementation of the Basel III rules – which would lower the value of real estate assets as bank capital – is good news for the sector. Home prices and home sales are now at a two-year high. But investors are ...