The market is soaring and for the first time in a while I feel there is a touch of panic buying. The challenge for many investors that have missed this rally thus far is built in their reluctance to buy what they perceived to be “expensive” stocks.
Chasing at this point is part of investing, but it doesn’t mean necessarily to buy an overvalued name. Macro fundamentals are rapidly improving which means several industries are rapidly improving while individual companies are obviously doing better. In fact, there are stocks that are cheaper now than they were when the share prices were lower.
Existing home sales out Tuesday morning were better than expected but with the persistent hurdles.
- Median prices slightly lower to $247,000
- Supply down to 1.8 million or just 3.9 months from 4.2 months