‘We’re in Nirvana for Housing’: Zelman
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A scarcity of homes for sale and record-low mortgage rates are setting up for a bullish real estate market, Zelman & Associates CEO Ivy Zelman said Thursday on CNBC.
"I think we're in nirvana for housing," she said. "I think that I have to tell you, I'm probably the most bullish I've ever been fundamentally, and I'm dating myself, been around for over 20 years, so I've seen a lot of ups and downs."
On "Fast Money," Zelman likened consumer sentiment to a battleship pointing down for the past several years.
"And then the inventory cleared, the blight goes away, consumers feel better and now it's really this urgency to go find a house," she said. "I'll tell you, there are Realtors blanketing neighborhoods, asking people to sell their homes."
Zelman correctly called both the housing market's top in 2005 and the bottom in 2012.
(Read More: Housing Recovery Leaves Some Behind)
Housing prices are poised to continue rising for the next four to six years, she added.
"Where the inventories in the United States are right now is a significant constraint. We have 30-year low inventories," Zelman said. "Mortgage financing is by far the best it's ever been in the history of our country. Rent inflation is making people reconsider going out and considering buying."
Trader disclosure: On March 7, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Stephanie Link is long AAPL; Stephanie Link is long GS; Stephanie Link is long CSCO; Stephanie Link is long SBUX; Stephanie Link is long FB; Pete Najarian is long AAPL; Pete Najarian is long C CALLS; Pete Najarian is long JPM CALLS; Pete Najarian is long CSCO CALLS; Pete Najarian is long YHOO ; Pete Najarian is long BBRY ; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long DELL; Mike Murphy is long BAC; Mike Murphy is long FB; Mike Murphy is long TOL; Josh Brown is long AAPL; Josh Brown is long BAC; Josh Brown is long GS; Josh Brown is long GLD; Josh Brown is long TLT; Josh Brown is long XLF; Josh Brown is long WMT; Josh Brown is long TGT.
