The Housing Bidding Wars Begin! - Voice of the People

By DiviMo,

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Zacks highlights commentary from People and Picks Member «DiviMo».

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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 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"

Two stocks, among several to consider if interested in housing,  are Lennar ( LEN ) and Toll Brothers ( TOL ).

The most recent picks by «DiviMo» are:
A buy rating on Tractor Supply ( TSCO ),
a buy rating on CONN'S ( CONN ) and
a buy rating on Idenix Pharma ( IDIX ).

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CONNS INC ( CONN ): Free Stock Analysis Report
IDENIX PHARMA ( IDIX ): Free Stock Analysis Report
LENNAR CORP -A ( LEN ): Free Stock Analysis Report
TOLL BROTHERS ( TOL ): Free Stock Analysis Report
TRACTOR SUPPLY ( TSCO ): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Investing Ideas , Stocks
Referenced Stocks: CONN , IDIX , LEN , TOL , TSCO

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