by Doug French
The SPDR S&P Homebuilders ETF closed the other day at 45.65, poking higher than February 2006’s 44.70. The conventional wisdom is:
“Teamed with a resilient job market, low mortgage rates have helped boost home buyer demand,” Matthew Speakman, an economist at real estate data provider Zillow, told CNBC. “An extreme shortage of for-sale listings, particularly at lower price points, remains a concern and may ultimately result in a sharper re-acceleration in home prices than expected.”
So everything is okeydokey in housing-land. Well, here in the Sunbelt, the housing price rebound looks to have topped, and it could be rolling over like it did in, say, 2006. WolfeStreet.com gives us the pictures.