Home Builders - Wells Fargo Housing Market Index for May up to 16, from 14 in April

Emerging optimism that a bottom may have been reached in USA housing markets was confirmed by the Home Builders / Wells Fargo Housing Index and good news from the banks also helped ignite the North American stock markets today.

From vantage points in the UK and in Canada, American real estate has looked quite inexpensive for close to a year now, and it seems that US home buyers and real estate investors are about to begin celebrating the biggest buyers market in the past 75 years. This accumulation stage may be followed by a longer than usual bull run, as all of the air has been taken out of prices, and solid values abound.