{"id":13692,"date":"2012-09-01T18:21:27","date_gmt":"2012-09-02T01:21:27","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=13692"},"modified":"2012-09-01T18:21:27","modified_gmt":"2012-09-02T01:21:27","slug":"latest-housing-price-data-confirm-housing-bottom-underway","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2012\/09\/01\/latest-housing-price-data-confirm-housing-bottom-underway\/","title":{"rendered":"Latest Housing Price Data Confirm Housing Bottom Underway"},"content":{"rendered":"<p><strong>(This is an excerpt from an article I originally published on Seeking Alpha on August 26, 2012. <a href=\"http:\/\/seekingalpha.com\/article\/828731-latest-housing-price-data-confirm-housing-bottom-is-underway\" target=\"_blank\">Click here to read the entire piece<\/a>.)<\/strong><\/p>\n<p>The last earnings reports from homebuilders like Toll Brothers (TOL) and KB Home (KBH) have delivered very positive outlooks on the current housing market: see &#8220;<a href=\"http:\/\/seekingalpha.com\/article\/825991-a-swell-of-pent-up-demand-supports-the-surge-in-toll-brothers\" target=\"_blank\">A Swell Of Pent Up Demand Supports The Surge In Toll Brothers<\/a>&#8221; and &#8220;<a href=\"http:\/\/seekingalpha.com\/article\/706441-kb-home-on-offense-as-its-housing-markets-and-pricing-power-strengthen\" target=\"_blank\">KB Home Going &#8216;On Offense&#8217; As Its Housing Markets And Pricing Power Strengthen<\/a>.&#8221; <a href=\"http:\/\/www.fhfa.gov\/webfiles\/24216\/2q2012hpi.pdf\" target=\"_blank\">The latest housing price data from the Federal Housing Finance Agency (FHFA)<\/a>, released August 23, seem to corroborate this bullishness. The FHFA report shows what looks like a firming in pricing power for sellers. If this bottoming in prices is sustained, then the housing market is well on target for the bottom in 2013 that I have anticipated since 2009 (for example, see 2010 article &#8220;<a href=\"http:\/\/drduru.com\/onetwentytwo\/2010\/09\/29\/housing-bottom-through-2013\/\" target=\"_blank\">Still Expecting Housing to Bounce Along the Bottom Until 2013<\/a>&#8220;).<\/p>\n<p>{snip}<\/p>\n<p><em><strong>Click charts for larger views&#8230;<\/strong><\/em><br \/>\n<center><br \/>\n<figure id=\"attachment_13693\" aria-describedby=\"caption-attachment-13693\" style=\"width: 290px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_SeasonalAdjustPurchaseOnlyPriceChange.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_SeasonalAdjustPurchaseOnlyPriceChange-300x201.png\" alt=\"FHFA HOUSE PRICE INDEX HISTORY FOR USA: Seasonally Adjusted Price Change Measured in Purchase-Only Index\" title=\"FHFA HOUSE PRICE INDEX HISTORY FOR USA: Seasonally Adjusted Price Change Measured in Purchase-Only Index\" width=\"300\" height=\"201\" class=\"size-medium wp-image-13693\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_SeasonalAdjustPurchaseOnlyPriceChange-300x201.png 300w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_SeasonalAdjustPurchaseOnlyPriceChange.png 770w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-13693\" class=\"wp-caption-text\">FHFA HOUSE PRICE INDEX HISTORY FOR USA: Seasonally Adjusted Price Change Measured in Purchase-Only Index<\/figcaption><\/figure><br \/>\n<br \/>\n<figure id=\"attachment_13694\" aria-describedby=\"caption-attachment-13694\" style=\"width: 290px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_SeasonalAdjustPurchaseOnlyPriceIndex.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_SeasonalAdjustPurchaseOnlyPriceIndex-300x210.png\" alt=\"Monthly House Price Index for USA: Purchase-Only, Seasonally Adjusted Index, January 1991 - Present\" title=\"Monthly House Price Index for USA: Purchase-Only, Seasonally Adjusted Index, January 1991 - Present\" width=\"300\" height=\"210\" class=\"size-medium wp-image-13694\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_SeasonalAdjustPurchaseOnlyPriceIndex-300x210.png 300w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_SeasonalAdjustPurchaseOnlyPriceIndex.png 757w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-13694\" class=\"wp-caption-text\">Monthly House Price Index for USA: Purchase-Only, Seasonally Adjusted Index, January 1991 - Present<\/figcaption><\/figure><br \/>\n(Download data <a href=\"http:\/\/www.fhfa.gov\/Default.aspx?Page=87\" target=\"_blank\">here<\/a>)<br \/>\n<\/center><\/p>\n<p>The FHFA also released its new &#8220;distress-free&#8221; measures for the purchase-only HPI.  {snip}<\/p>\n<p>{snip}<\/p>\n<p>I like this measure because it can provide more supporting evidence for the sustainability in price changes. For example, if the distress free HPI is bottoming along with the full sample, then I can assume that distressed homes are having a lower impact on pricing. {snip}<\/p>\n<p>In almost all the twelve metropolitan areas studied by the FHFA, the bottoming of prices seems as clear as the overall price index shown above. {snip}<\/p>\n<p><center><br \/>\n<figure id=\"attachment_13698\" aria-describedby=\"caption-attachment-13698\" style=\"width: 513px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Atlanta.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Atlanta.png\" alt=\"Atlanta-Sandy Springs-Marietta, GA\" title=\"Atlanta-Sandy Springs-Marietta, GA\" width=\"523\" height=\"335\" class=\"size-full wp-image-13698\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Atlanta.png 523w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Atlanta-300x192.png 300w\" sizes=\"auto, (max-width: 523px) 100vw, 523px\" \/><\/a><figcaption id=\"caption-attachment-13698\" class=\"wp-caption-text\">Atlanta-Sandy Springs-Marietta, GA<\/figcaption><\/figure><br \/>\n<br \/>\n<figure id=\"attachment_13699\" aria-describedby=\"caption-attachment-13699\" style=\"width: 508px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Chicago.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Chicago.png\" alt=\"Chicago-Joliet-Naperville, IL\" title=\"Chicago-Joliet-Naperville, IL\" width=\"518\" height=\"330\" class=\"size-full wp-image-13699\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Chicago.png 518w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Chicago-300x191.png 300w\" sizes=\"auto, (max-width: 518px) 100vw, 518px\" \/><\/a><figcaption id=\"caption-attachment-13699\" class=\"wp-caption-text\">Chicago-Joliet-Naperville, IL<\/figcaption><\/figure><br \/>\n<br \/>\n<figure id=\"attachment_13700\" aria-describedby=\"caption-attachment-13700\" style=\"width: 508px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_LosAngeles.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_LosAngeles.png\" alt=\"Los Angeles-Long Beach-Glendale, CA\" title=\"Los Angeles-Long Beach-Glendale, CA\" width=\"518\" height=\"327\" class=\"size-full wp-image-13700\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_LosAngeles.png 518w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_LosAngeles-300x189.png 300w\" sizes=\"auto, (max-width: 518px) 100vw, 518px\" \/><\/a><figcaption id=\"caption-attachment-13700\" class=\"wp-caption-text\">Los Angeles-Long Beach-Glendale, CA<\/figcaption><\/figure><br \/>\n<br \/>\n<figure id=\"attachment_13701\" aria-describedby=\"caption-attachment-13701\" style=\"width: 505px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Miami.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Miami.png\" alt=\"Miami-Miami Beach-Kendall, FL\" title=\"Miami-Miami Beach-Kendall, FL\" width=\"515\" height=\"333\" class=\"size-full wp-image-13701\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Miami.png 515w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Miami-300x193.png 300w\" sizes=\"auto, (max-width: 515px) 100vw, 515px\" \/><\/a><figcaption id=\"caption-attachment-13701\" class=\"wp-caption-text\">Miami-Miami Beach-Kendall, FL<\/figcaption><\/figure><br \/>\n<br \/>\n<figure id=\"attachment_13702\" aria-describedby=\"caption-attachment-13702\" style=\"width: 507px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Oakland.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Oakland.png\" alt=\"Oakland-Fremont-Hayward, CA\" title=\"Oakland-Fremont-Hayward, CA\" width=\"517\" height=\"331\" class=\"size-full wp-image-13702\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Oakland.png 517w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Oakland-300x192.png 300w\" sizes=\"auto, (max-width: 517px) 100vw, 517px\" \/><\/a><figcaption id=\"caption-attachment-13702\" class=\"wp-caption-text\">Oakland-Fremont-Hayward, CA<\/figcaption><\/figure><br \/>\n<br \/>\n<figure id=\"attachment_13703\" aria-describedby=\"caption-attachment-13703\" style=\"width: 506px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Phoenix.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Phoenix.png\" alt=\"Phoenix-Mesa-Glendale, AZ\" title=\"Phoenix-Mesa-Glendale, AZ\" width=\"516\" height=\"326\" class=\"size-full wp-image-13703\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Phoenix.png 516w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Phoenix-300x189.png 300w\" sizes=\"auto, (max-width: 516px) 100vw, 516px\" \/><\/a><figcaption id=\"caption-attachment-13703\" class=\"wp-caption-text\">Phoenix-Mesa-Glendale, AZ<\/figcaption><\/figure><br \/>\n<br \/>\n<figure id=\"attachment_13704\" aria-describedby=\"caption-attachment-13704\" style=\"width: 510px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Riverside.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Riverside.png\" alt=\"Riverside-San Bernardino-Ontario, CA\" title=\"Riverside-San Bernardino-Ontario, CA\" width=\"520\" height=\"326\" class=\"size-full wp-image-13704\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Riverside.png 520w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Riverside-300x188.png 300w\" sizes=\"auto, (max-width: 520px) 100vw, 520px\" \/><\/a><figcaption id=\"caption-attachment-13704\" class=\"wp-caption-text\">Riverside-San Bernardino-Ontario, CA<\/figcaption><\/figure><br \/>\n<br \/>\n<figure id=\"attachment_13705\" aria-describedby=\"caption-attachment-13705\" style=\"width: 504px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_SanDiego.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_SanDiego.png\" alt=\"San Diego-Carlsbad-San Marcos, CA\" title=\"San Diego-Carlsbad-San Marcos, CA\" width=\"514\" height=\"332\" class=\"size-full wp-image-13705\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_SanDiego.png 514w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_SanDiego-300x193.png 300w\" sizes=\"auto, (max-width: 514px) 100vw, 514px\" \/><\/a><figcaption id=\"caption-attachment-13705\" class=\"wp-caption-text\">San Diego-Carlsbad-San Marcos, CA<\/figcaption><\/figure><br \/>\n<br \/>\n<figure id=\"attachment_13706\" aria-describedby=\"caption-attachment-13706\" style=\"width: 504px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_SanFrancisco.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_SanFrancisco.png\" alt=\"San Francisco-San Mateo-Redwood City, CA\" title=\"San Francisco-San Mateo-Redwood City, CA\" width=\"514\" height=\"333\" class=\"size-full wp-image-13706\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_SanFrancisco.png 514w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_SanFrancisco-300x194.png 300w\" sizes=\"auto, (max-width: 514px) 100vw, 514px\" \/><\/a><figcaption id=\"caption-attachment-13706\" class=\"wp-caption-text\">San Francisco-San Mateo-Redwood City, CA<\/figcaption><\/figure><br \/>\n<br \/>\n<figure id=\"attachment_13707\" aria-describedby=\"caption-attachment-13707\" style=\"width: 503px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_SantaAna.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_SantaAna.png\" alt=\"Santa Ana-Anaheim-Irvine, CA\" title=\"Santa Ana-Anaheim-Irvine, CA\" width=\"513\" height=\"331\" class=\"size-full wp-image-13707\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_SantaAna.png 513w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_SantaAna-300x193.png 300w\" sizes=\"auto, (max-width: 513px) 100vw, 513px\" \/><\/a><figcaption id=\"caption-attachment-13707\" class=\"wp-caption-text\">Santa Ana-Anaheim-Irvine, CA<\/figcaption><\/figure><br \/>\n<br \/>\n<figure id=\"attachment_13708\" aria-describedby=\"caption-attachment-13708\" style=\"width: 502px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Tampa.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Tampa.png\" alt=\"Tampa-St. Petersburg-Clearwater, FL\" title=\"Tampa-St. Petersburg-Clearwater, FL\" width=\"512\" height=\"332\" class=\"size-full wp-image-13708\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Tampa.png 512w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Tampa-300x194.png 300w\" sizes=\"auto, (max-width: 512px) 100vw, 512px\" \/><\/a><figcaption id=\"caption-attachment-13708\" class=\"wp-caption-text\">Tampa-St. Petersburg-Clearwater, FL<\/figcaption><\/figure><br \/>\n<br \/>\n<figure id=\"attachment_13709\" aria-describedby=\"caption-attachment-13709\" style=\"width: 507px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Warren.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Warren.png\" alt=\"Warren-Troy-Farmington Hills, MI\" title=\"Warren-Troy-Farmington Hills, MI\" width=\"517\" height=\"327\" class=\"size-full wp-image-13709\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Warren.png 517w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120825_FHFA_DistressFree_Warren-300x189.png 300w\" sizes=\"auto, (max-width: 517px) 100vw, 517px\" \/><\/a><figcaption id=\"caption-attachment-13709\" class=\"wp-caption-text\">Warren-Troy-Farmington Hills, MI<\/figcaption><\/figure><br \/>\n<br \/>\n<\/center><\/p>\n<p>Housing-related stocks have traded higher ahead of these data. {snip}<\/p>\n<p><center><br \/>\n<figure id=\"attachment_13710\" aria-describedby=\"caption-attachment-13710\" style=\"width: 490px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120824_XHB.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120824_XHB.png\" alt=\"XHB has rallied throughout most of the year to a 36% year-to-date gain, achieving fresh 4-year highs\" title=\"XHB has rallied throughout most of the year to a 36% year-to-date gain, achieving fresh 4-year highs\" width=\"500\" height=\"350\" class=\"size-full wp-image-13710\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120824_XHB.png 500w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2012\/08\/120824_XHB-300x210.png 300w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/a><figcaption id=\"caption-attachment-13710\" class=\"wp-caption-text\">XHB has rallied throughout most of the year to a 36% year-to-date gain, achieving fresh 4-year highs<\/figcaption><\/figure><br \/>\n<strong>Source: <a href=\"http:\/\/www.freestockcharts.com\/\" target=\"_blank\">FreeStockCharts.com<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>Now, with homebuilder stocks at multi-year highs, I think the current budding recovery is now fairly priced into related stocks. Buying dips still makes sense and corrections are likely to occur anytime the data show setbacks in the recovery. {snip}<\/p>\n<p>Be careful out there!<\/p>\n<p><strong>(This is an excerpt from an article I originally published on Seeking Alpha on August 26, 2012. <a href=\"http:\/\/seekingalpha.com\/article\/828731-latest-housing-price-data-confirm-housing-bottom-is-underway\" target=\"_blank\">Click here to read the entire piece<\/a>.)<\/strong><\/p>\n<p>Full disclosure: long KBH shares and short calls <\/p>\n","protected":false},"excerpt":{"rendered":"<p>(This is an excerpt from an article I originally published on Seeking Alpha on August 26, 2012. Click here to read the entire piece.) The last earnings reports from homebuilders like Toll Brothers (TOL) and KB Home (KBH) have delivered very positive outlooks on the current housing market: see &#8220;A Swell Of Pent Up Demand &#8230; <a title=\"Latest Housing Price Data Confirm Housing Bottom Underway\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2012\/09\/01\/latest-housing-price-data-confirm-housing-bottom-underway\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[35],"tags":[1028,95,80,146,147,37,36],"class_list":["post-13692","post","type-post","status-publish","format-standard","hentry","category-housing","tag-fhfa","tag-housing-market","tag-housing-price","tag-kb-home","tag-kbh","tag-tol","tag-toll-brothers-inc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Latest Housing Price Data Confirm Housing Bottom Underway - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2012\/09\/01\/latest-housing-price-data-confirm-housing-bottom-underway\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Latest Housing Price Data Confirm Housing Bottom Underway - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(This is an excerpt from an article I originally published on Seeking Alpha on August 26, 2012. Click here to read the entire piece.) The last earnings reports from homebuilders like Toll Brothers (TOL) and KB Home (KBH) have delivered very positive outlooks on the current housing market: see &#8220;A Swell Of Pent Up Demand ... 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