Wednesday, July 29, 2009

Home builders' stocks double

Here's another one of those undeniable green shoots: the Bloomberg index of the stocks of 18 leading home builders is up 100% from its low of last November (which doesn't show up on this chart since it uses only month-end figures). We've seen lots of tentative signs of late (e.g., housing starts, new home sales, the Case-Shiller index) that the housing market has hit bottom, and this adds a lot of weight to that conclusion. Surely we have seen the worst of the news; it's highly likely that if we haven't seen the bottom in residential construction, we are getting very close.

3 comments:

Paul said...

Scott,

Did you see this? It reminded me of things you have been saying.

http://thehill.com/leading-the-news/stocks-go-up-as-agenda-slides-2009-07-28.html

Scott Grannis said...

Maybe someone on Capitol Hill is reading my blog?

MD Limon Khan said...

Thanks for sharing information on this blog, i have visited your blog great post....!!!!
calgary home builders