By Rita Nazareth – Jun 26, 2012
U.S. stocks were little changed, after yesterday’s selloff in global equities, as residential real estate prices declined at the slowest pace in more than a year while consumer confidencedropped.
“Housing has clearly bottomed,” said Hank Smith, chief investment officer at Haverford Trust Co. in Radnor,Pennsylvania. His firm manages about $6.5 billion. “We’re in a period where we’re going to bounce along the bottom. Data will be choppy and concern about Europe is still there.”