Recent housing metrics reveal near record high housing affordability, a return to normal housing vacancy as foreclosed homes are cleared from the market, a sharp drop in the supply of unsold homes on the market and accordingly (courtesy of Scott Grannis at Calafia Beach Pundit) and strong growth in prices (see Yardeni.com). The National Assoc. of Realtors reported that the median price of existing homes gain approximately 12% in January vs. Jan. 2012 – the highest growth since early 2006. Rasmussen Reports polling in February showed that 54% of homeowners now believe their homes are worth more than when they bought it. 36% of them expect their home’s value will go up over the next year – up strongly from a June 2012 poll result of only 26%. The strength in housing helps consumer and investor confidence. Jeb B. Terry, Sr. March 3, 2013.
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