Best of the Week
Most Popular
1.Scottish Independence YES Vote Panic - Scotland Committing Suicide and Terminating the UK? - Nadeem_Walayat
2.Your “Last, Best” Chance to Buy Apple Stock at a Bargain Price - Michael A. Robinson
3.Gold and Silver Price Ready To Go BOOM - Austin_Galt
4.Please Scotland, Blow Up The European Union - Raul_I_Meijer
5.Gold and Silver Potential Price Meltdown Scenario - Rambus_Chartology
6.Scottish Independence UK Catastrophe - The Balkanisation of Britain - Video - Nadeem_Walayat
7.The Truth About Where Gold Price Is Headed - Chris_Vermeulen
8.The Price Of Gold And The Art Of War Part I - Darryl_R_Schoon
9.World Stock Markets Are Topping - Dow, ASX, BSE, DAX and FTSE Analysis - Austin_Galt
10.Gold And Silver New World Order of Deceit, Debt, and War. PMs A Casualty - Michael_Noonan
Last 5 days
The Ethics of Entrepreneurship and Profit - 14th Sept 14
The Big Investor Opportunity in the Orbital Space Junkyard - 14th Sept 14
Kohl's and The Rest of The Retailers are in Deep Doo Doo - 14th Sept 14
Independent Scotland Will Disintegrate as Unionist Regions Demand Referendum's to Rejoin UK - 14th Sept 14
Stock Market Pullback Continues - 13th Sept 14
SNP Fanatics Warn of Day of Reckoning for Scottish Independence No Campaigners - 13th Sept 14
Scottish Independence Would Shake Up the Global System - 13th Sept 14
The World Order Becomes Disorder - 13th Sept 14
Is Geothermal Power About to Become The Next Great Battleground Over Fracking? - 12th Sept 14
Heavy Gold and Silver Shorting is Bullish - 12th Sept 14
Strong U.S. Dollar Undermines Gold and Silver - 12th Sept 14
Debt And The Decline Of Money - 12th Sept 14
Panic On The Streets Of London ... Can Scotland Ever Be The Same Again? - 12th Sept 14
Will The Real Silver Commercials Stand Up? - 12th Sept 14
If You Own Only One Investment, Make Sure This Is It - 12th Sept 14
Main Reason Why Scotland Will Vote NO to Independence, 70% Probability - 12th Sept 14
Better Days Ahead For U.S. Stock And Housing Market - 12th Sept 14
U.S. Meddling Dims Prospects for Ukraine Peace - 12th Sept 14
Is the Fed Preparing to Asset-Strip Local Governments? - 12th Sept 14
China Holds “Gold Congress” - Positioning Itself As Global Gold Hub - 11th Sept 14
Fire Ice Could be Energy's Magic Bullet or a Planet-killing Catastrophe - 11th Sept 14
The Mass Psychosis Of 9 /11 Will Never Be Healed - 11th Sept 14
Radical Islam's Crisis of Competing Caliphates - 11th Sept 14
Ukraine Crisis And Self-Determination - 11th Sept 14
Cameron and Miliband Desperately Attempt to Prevent Scotland Committing Suicide - 11th Sept 14
A Supply Crunch Points to Higher Uranium Prices - 11th Sept 14
The Myanmar Shadow - 11th Sept 14
Europe Takes the QE Baton - 11th Sept 14
Full Frontal Inflation - 11th Sept 14
Scottish Independence UK Catastrophe - The Balkanisation of Britain - Video - 10th Sep 14
Economic Reality of a Wealth Tax - 10th Sep 14
10 Year U.S. Treasury Short Best Place to be Remainder of 2014 - 10th Sep 14
Gold Bugs Shifting Sentiment - 10th Sep 14
Strong U.S. Dollar Weakens September Gold Price - 10th Sep 14
Here's Why Trendlines Are Your New Best Friend, Part 2 - 10th Sep 14
Gold, Stocks and US Dollar Long Cycles, Trend Changes - 9th Sep 14
AUDNZD Another Pullback Forex Trading Opportunity? - 9th Sep 14
A Better Way to Play Tesla’s Success in China - 9th Sep 14
The Price Of Gold And The Art Of War Part I - 9th Sep 14
What's With the Japanese Yen? - 9th Sep 14
Macro Factors Dominating Gold Price As US Dollar Outweighs Physical Demand And Investor Flows - 9th Sep 14
It's Time to Get a Bargain on Apple Stock - 9th Sep 14
Gold and Silver Potential Price Meltdown Scenario - 9th Sep 14
No Economy For Americans - 9th Sep 14
Did Putin Just Bring Peace to Ukraine? - 9th Sep 14
Suckering the Public on a War of Terror - 9th Sep 14
Please Scotland, Blow Up The European Union - 8th Sep 14
Ten Reasons to Condemn Inflation - 8th Sep 14
Gold Price at $1,500 by Christmas? - 8th Sep 14
How the Fed is Killing America - 8th Sep 14
Stock Market Final Warning - Will The ECB's QE Make A Difference? - 8th Sep 14
There Is a Rogue Elephant in Your House - 8th Sep 14
What Everyone Needs to Understand About Our Markets, Debt, and Empire - 8th Sep 14
Why Economic Growth Is Finished - 8th Sep 14
Renegade Currency - Bitcoin Stock System to "Wipe Out" Wall Street - 8th Sep 14
No Power, No Peace - It’s the Lack of Energy That Shapes the World and Moves the Markets - 8th Sep 14
U.S. Treasury Bull Market 33rd Anniversary of The Greatest Risk Adjusted Returns in Anglo-American History - 8th Sep 14
As ISDAFIX Becomes Next LIBOR, Can GOFO Manage To Avoid The Spotlight? - 8th Sep 14
Gold and Silver Price Ready To Go BOOM - 8th Sep 14

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

Huge Stocks Bear Market

Proof U.S. Housing Market Recovery is for Real and Just Beginning

Housing-Market / US Housing Mar 27, 2013 - 05:06 PM GMT

By: Money_Morning

Housing-Market

Ben Gersten writes: The housing market has rebounded in a big way, with home prices increasing the most since the housing bubble burst in 2006.

Prices aren't the only indicator pointed toward recovery.

Housing barometers including sales, permits and housing starts have surged well beyond their recession troughs and back into healthy territory - and bullish analysts say there's plenty more room for growth after years of decreased activity.


The housing market activity has been driven by pent-up demand, improved consumer confidence, low interest rates and still affordable prices. And the industry's comeback comes at a time when supply is tight. The inventory of homes available is at near-historic lows, and foreclosures have declined.

Looking ahead to the rest of 2013, JPMorgan Chase & Co. (NYSE: JPM) has doubled its forecast for U.S. housing price gains in 2013 to 7% and expects a more than 14% increase through 2015.

And Bank of America Corp. (NYSE: BAC) - in a recent report titled "Someone Say House Party?" - said home values will climb 8% this year, up from its previous estimate of 4.7%.

Well-known industry analyst Ivy Zelman, CEO of Zelman & Associates, shares the bullish outlook.

"I think we're in nirvana for housing," Zelman, who correctly called both the housing market's peak in 2005 and the bottom in 2012, told CNBC. "I'm probably the most bullish I've ever been fundamentally, and I'm dating myself - been around for over 20 years, so I've seen a lot of ups and downs."

These five charts provide more evidence the housing industry is on its way back.

The U.S. Housing Recovery in 5 Charts
1. Prices of existing homes in 20 major U.S. markets rose 8.1% in January, the biggest year-over-year increase in nearly seven years, the S&P Case-Shiller Index showed Monday. But while prices hit a two-year high, they're still down 28.4% from peak prices in 2006.

2. New home sales started the year off strongly with a 13.1% jump in January from the previous month, bringing new sales to 431,000 units, the highest level since September 2008, but still down more than 70% from the 2005 high.

3. In February, the number of building permits - a forerunner of housing activity - increased 3.7% to 939,000 units, the most since June 2008, but that's still down nearly 60% from the 2005 high.

4. Housing starts for February came in at 917,000 units, a 27.7% year-over-year increase, and the second-fastest pace since June 2008, trailing only December's 982,000 units. Still, starts are also down almost 60% from their 2006 peak.

5. February's level of 1.94 million existing homes available for sale is down 19.2% from a year ago. That equals about 4.7 months' supply of homes, below the six months' supply economists consider a healthy balance of supply and demand, which should continue to drive up prices.

Source :http://moneymorning.com/2013/03/26/these-5-charts-prove-the-housing-recovery-is-for-real-and-just-beginning/

Money Morning/The Money Map Report

©2013 Monument Street Publishing. All Rights Reserved. Protected by copyright laws of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), of content from this website, in whole or in part, is strictly prohibited without the express written permission of Monument Street Publishing. 105 West Monument Street, Baltimore MD 21201, Email: customerservice@moneymorning.com

Disclaimer: Nothing published by Money Morning should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investent advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication, or after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended by Money Morning should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company.

Money Morning Archive

© 2005-2014 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Free Report - Financial Markets 2014