For Immediate Release
Chicago, IL – 04/30/2012 – Zacks highlights commentary from People and Picks Trader “DiviMo”.
For more Voice of the People, visit http://at.zacks.com/?id=5851
The Housing Bidding Wars Begin!
Mark it down.
On Wall Street there are certain events, certain days, where the market trend turns direction. In March 2009, the market hit a low until Citigroup came out with earnings that surprised upwards. That day, the market turned upwards and initiated the start of a bull market.
Mark the last day of April for the confirmation of a turn in the home building sector. Oh, the sector has done decent this year but yesterday a number of home builder stocks made good moves.
Today, the Wall Street Journal, no less, has a front page article titled "Stunned Home Buyers Find The Bidding Wars Are Back."
Is the six year housing demand slump over?
To quote from the article, "A new development..as spring season gets under way: Bidding wars are bad. From California to Florida, buyers are increasingl competing for the same house, today's bidding are a result of supply shortages. ...the bidding wars caused by tight inventory provide the latest evidence that housing demand is starting to pick up. "
"An index that measures the number of contracts signed to purchase previously owned homes rose in March to its highest level in nearly two years"
About the Zacks Community
In 2008, Zacks Investment Research launched PeopleAndPicks.com, a stock-picking website where members of the Zacks community can test their strategies and share ideas with other members. Each user is scored on the accuracy of his or her picks, and top users are rewarded with free products from Zacks. Registration is free. To learn more about People And Picks, visit http://at.zacks.com/?id=5957
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Len Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3:1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit From the Pros by going to http://at.zacks.com/?id=5958.
Follow us on Twitter: https://twitter.com/zacksresearch
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
More From Zacks.com