Source: National Association of Realtors, November 19, 2012:
October, sales of existing homes, increased 2.1% month-over-month to a seasonally adjusted annual rate of 4.8 million. Up 10.9% from a year earlier, representing the 16th consecutive month of year-over-year home-sales gains. New housing starts are also 87.0% above the annual rate of 478,000 in April 2009, the recession low.
What does all of this mean for investors? When there’s a gold rush, buy shovels.
Lumber manufactures and supplies and suppliers of structural and related building products (lumber, windows, doors, cabinets, hardware, insulation, etc.) for residential construction.