The US Housing Market has put on an impressive run in the past 12 months. Housing Starts are up 21.5% Y/Y, with completions up 5.4%, and homes under construction up 17.0%. New Home sales have risen 26%+ over the past 12 months driving inventories down by 14.5%.
Continued strong growth in the near term is expect as the NAHB/Wells Fargo Housing Market Indicator (HMI) has accelerated higher over the past 3 months. Housing Starts, which lag the HMI by 2-4 months, should further accelerate in the next 1-2 months as well.
All this impressive data has led to strong performance by Housing Sector stocks. XHB, a Housing Sector ETF is up 30%+ relative to the S&P 500 and up an impressive 65% over the past twelve months.
Click on our Monthly Housing Sector Chart Package for more data...