ADT Is a Steal
It's in vogue to be bullish on housing right now. But, while many are focusing on the recent strength in housing starts, I'm basing my enthusiasm around the pain point that is the multiyear low in housing-inventory stock. At the end of 2012, the number of homes listed for sale stood at a five-year low, 17.3% lower than at the end of 2011. Other data, from the National Association of Homebuilders, put the supply of new homes at 4.9 months -- toward the low end for the last 60 months.
To me this says the housing market needs to rebound simply in order to restore inventory levels back to more normalized levels. We've seen the homebuilder stocks climb substantially over the last 12 months, among them Toll Brothers (TOL), Ryland (RYL), Pulte (PHM) and the one I recommended almost a year ago -- M/I Homes (MHO)....608 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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