(This is an excerpt from an article I originally published on Seeking Alpha on December 17, 2013. Click here to read the entire piece.)
The latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) surged to 58 from 54. The NAHB pointed to pent-up housing demand from the government shutdown as a primary driver for the increase. This suggests that whatever impact that shutdown had on housing market activity has mostly passed through the system. This is a positive sign and hopefully another encouraging indicator of the economy’s overall resilience.
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Source: FreeStockCharts.com
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Be careful out there!
(This is an excerpt from an article I originally published on Seeking Alpha on December 17, 2013. Click here to read the entire piece.)
Full disclosure: no positions (although I am long several housing-related stocks)