Builders FirstSource, Inc. (BLDR)

[Tina]

Oct. 6 (Bloomberg) -- The U.S. economy is on the mend and housing is poised for a rebound, said Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities Inc. in New York.

“The momentum in the economy is moving forward,” LaVorgna said today in an interview on Bloomberg Radio.

Housing is close to a turnaround because “we have had a tremendous improvement on inventories,” he said. “We are much closer to a housing bottom than many believe.”

At the current sales pace it would take 8.5 months to sell all the previously owned homes on the market, compared with 11.3 months in April 2008, the highest level since at least 1999. For new houses, supply dropped to 7.3 months in August, the shortest period since January 2007.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=an1vxMc2SMEU