U.S. Home Prices Are at Record Highs: 1 Growth Stock to Buy Now
The median sales prices of existing homes in the U.S. surpassed $400,000 for the first time in May. That marks a record-breaking 123 consecutive months in which existing home prices have increased on a year-over-year basis, and the situation may not improve anytime soon. National Association of Realtors (NAR) Chief Economist Lawrence Yun recently said inventory levels would need to "almost double" to cool home price appreciation.
Not surprisingly, some of that demand is spilling over into multifamily units (i.e., apartments), and multifamily housing starts are expected to rise 26% this year. That could be a catalyst for Walker & Dunlop (NYSE: WD).
Here's why the stock is worth buying right now.
Source Fool.com
