Below is a chart and brief excerpt from today's Early Look written by Director of Research Daryl Jones.
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Speaking of which, housing equities and subsectors have their best performance in #Quad1. Coincidentally, our housing team is doing their quarterly update on housing this morning. We track the housing market closely and have noted that it has already started to accelerate from the lows of the early summer. In the attached Chart of the Day, you can see this in detail via pending home sales. The biggest challenge for housing is that inventory remains at historically low levels. Currently, months supply nationally is at about 2.30 months, which remains near 40-year lows. Obviously, this remains positive for prices, but is also indicative of strong demand and the need for home builders to expand and grow supply. |
