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Why home builders have been perking up

Posted on 22 November 2012

Sentiment, not to mention stock prices, of home builders are perking up, and they have good reason. The inventory of existing homes is at a 10-year low, according to data released Monday by the National Association of Realtors. At the current sales rate, inventories represent a 5.4-month supply, the leanest supply since 2006.
“Builders are reporting increasing demand for new homes as inventories of foreclosed and distressed properties begin to shrink in markets across the country,” said Barry Rutenberg, a Gainesville, Fla.-based home builder and chairman of the National Association of Home Builders……………………………………….Full Article: Source


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