The New Edition – Apprentice Millionaire Portfolio 2012
e-book is available now at www.amazon.com
Sales of previously-owned homes in the U.S. rose to an 11-month high in December and the supply of properties on the market dropped to a near seven-year low, an industry group said on Friday, January 20,2012
The National Association of Realtors said existing home sales increased 5.0% month over month to an annual rate of 4.61 million units. November’s sales pace was revised down to a 4.39 million-unit pace, previously reported as a 4.42 million-unit rate. Economists polled by Reuters had expected sales to rise to a 4.65 million-unit sales pace.
Sales in December were up 3.6% from a year ago. A total of 4.26
million homes were sold in 2011, up 1.7% from the prior year.
CAVEAT:The third straight month of gains in sales added to hopes that a tentative recovery in the housing market was starting take shape, but progress will be painfully slow given a glut of unsold properties that is weighing down on prices.
Adding to the optimism within the U.S. housing market was news that noted U.S. housing expert Ivy Zelman has turned bullish on the U.S. housing market. Zelman commented that many signs within the
housing market are pointing to sustainable recovery within the beaten down sector. Zelman gained fame back in 2007, for being one of the first to warn of the housing crash that was coming.
Stocks benefitting from a healing housing market include home
builders Lennar (LEN) and Toll Brothers (TOL), lumber producers such as Canfor (CFP), West Fraser Timber (WFT) and Interfor (IFP.A) and building materials companies such as Masco (MAS) and indirectly Canwel Building Materials (CWX).
THE NEW Apprentice Millionaire Portfolio 2012 will be on Amazon as an e-book ( hopefully this week !)