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    MARKET EDGES

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The housing market day-after-day continues to see positive news come out of it. The latest bit of data is November pending home sales, which came in strong with a +1.7% month-over-month increase after a +5.0% increase in October. We expect upside of +18.1% over the next 18 months. Prices are currently rising at around 0.6% a month. This comes on the heels of lower inventory, improving prices and an increase in mortgage applications; a much welcome recovery for investors and home owners.

Housing: Full Steam Ahead - Pending Home Sales ST