New Housing Starts Up and Homebuilders Starting to See the Light Again

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In the middle of April, we posed the question, “Is now the time to get back into the home builders?” With the Philadelphia Housing Index ($HGX) having closed at $79.89, we cited several reasons why we felt it was, in fact, time to get the sector back on the radar. We cited, “… an unexpected sales jump in February and a rise in mortgage applications in March may also signal the housing market is stabilizing.”

In addition, we noticed that the price of copper, a principal component used in home construction was surging in price and that its multi-month high suggested that demand by home builders could be growing.

So where are we now? Well…we are pleased to report that OTCPicks members who followed our lead have certainly outperformed the broader market. In fact, the Philadelphia Housing Index, the very same index we referenced back in April at $79.89, recently reached a nearly a 10 month high at $102.75 - nearly 29% since our original report.

Several stocks covered in this Market Blog include Toll Brothers (TOL) and D.R. Horton (DHI).

To read the full market blog visit: http://www.otcpicks.com/1736-new-housing-starts-up-and-homebuilders-starting-to-see-the-light-again.htm

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