The averages are moderately higher after the pending home sales report came in better than expected. It showed that U.S. home sales were stronger in the South and the Midwest. CNBC reported that the high end housing market has been ravaged by the stock sell off, showing that homes valued at $750,000 or more plunged by 47% in the year ending in November. But homes valued at $400,000 or less fell just 3% during that same time period. The housing sector is strong today with the housing ETF up more than 6.5%.
posted by Peter Greene
10 Sunday Reads
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