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By Jeremy Glaser | 08-25-2009 01:22 AM

Housing Finding a Bottom

The odds are good we've found a bottom in home prices, but most homebuilding stocks look fairly valued. Investors should instead look to cheaper supporting players in the home sector.

Jeremy Glaser: I'm Jeremy Glaser with Morningstar.com. We got another piece of bullish housing news this morning with the S&P/Case-Shiller Index showing its second straight sequential increase in housing prices.

Here to discuss this with me is Eric Landry, associate director in our equity research department. Thanks for joining me, Eric.

Eric Landry: Hi, Jeremy.

Glaser: Were you surprised at all by this increase?

Landry: No, we were not, and we were one of the few that were not surprised. We actually put out a report for our institutional clients in May that said, "Look out, folks. Sequential increases for the Case-Shiller Index are coming."

We forecasted increase last month, this month, and also a stronger increase next month.

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