Real Estate Stocks

With the Spring selling season underway, it's time to take a look at how Real Estate related stocks have been faring.

 The Homebuilder have continue their steady up trend from last September.  They are currently overbought but have good support at $18.5.  The $20 target still holds.

REITs broke out and hit their target.  They are currently overbought and could use some unwinding.  The first support is at $60.

Lumber has setup nicely in its base.  This is very objective for going long near $230 with a stop 5% below at $219.5.  A more conservative stop would be below the 200 wk ma at $228.5.  If lumber gets going again, it ought to target $330.  It's worth noting that WY & PCL's shares have been in denial over lumber's drop.  That sets up a nice paired trade by shorting PCL. 

10 year rates look set to take a breather.  April's drop in rates has created some significant resistance are 3.3%.  It may take a while retake levels above that.

My favorite local Bank stock got a nice boost after posting a favorable earnings report this week.  Support is now raised to $2.55.  If local residential prices can stabilize Banner should continue to perform well.  Of note, a local private bank, HomeStreet, has announced its intention to go public.  It will be interesting to "look under the hood" at its financials to see how they have weathered the storm.