Chart of the Week - Housing - and ... starting to change my mind (tentatively)

[arbitragr]

Okay so this week's chart is one about housing. I've been looking deeper into the housing market to get a view on whether it's time to invest in financials or not, and whether things are bottoming out. I've been assessing other things, and data on the housing situation has been eluding me in the meantime.

Here's the chart:

 

http://i163.photobucket.com/albums/t314/ripleyx/Finance/newhomesalesmarch-057x057.jpg

 

 

So I guess I'm starting to change my mind. You can see right at the end there that there are some signs of a pop in March/April 2009, same thing goes with the months supply of existing homes on the market chart.

I'll take a detailed look into WFC and JPM and all the others a bit more closely over the next week or so. Hopefully they don't run up too much.

How long things will take to recover is anyone's guess.