According to the Zillow Home Value Index, prices for home in the US rose by 0.2% year/year in the second quarter for its first gain since 2007. The average price for a home is now $149,300 and the increase was brought on by a boost in demand for homes, record low interest rates, and a tight supply of properties for sale.
Zillow goes on to say, " The solid Q2 in the midst of economic headwinds indicates the housing market has some organic fundamental strength on its own."
The homebuilders and related stocks have been outperformers this year and got a boost yesterday when Goldman Sachs upgraded the sector.
Some of our favorite homebuilders include: Lennar ($LEN), Toll Brothers ($TOL), along with two ETFs ($XHB and $ITB).
Market expert and TV personality Matt McCall blogs about what is really moving the markets. He will emphasize Exchange-Traded Funds (ETFs) and individual stocks throughout the trading day.
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