Housing Shows Signs of Perking Up

It seems we have finally started to recover from the winter weather. Homebuilders such as Toll Brothers (TOL), Lennar (LEN) and others are starting to see a pickup in activity and in their shares. Lowe's (LOW) said on its quarterly conference call that "underlying home improvement industry demand remains intact despite pressures exerted by unfavorable weather in the first quarter, in fact performance has already improved in May." That confirmed the commentary offered by Home Depot (HD) that sales in May were "robust."

Last week, the National Association of Realtors published its Pending Home Sales Index for April, and the figure climbed to its highest level so far in 2014: 97.8. Even where I live in the greater D.C.-metro area, I am seeing more for-sale signs. Granted, that is a very local data point, but such low supply makes this a seller's market....317 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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