Pent-Up Demand Pushes Up Housing Market Index

(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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ITB's consolidation phase may be nearing a breakout point
ITB’s consolidation phase may be nearing a breakout point

A rapid turn of events for ITB: from a near retest of major lows to multi-year highs
A rapid turn of events for ITB: from a near retest of major lows to multi-year highs

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)

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