This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Housing Starts Hit Hard Stop in October

(Updated to include movement in homebuilder stocks)

WASHINGTON, D.C.( TheStreet) -- October housing starts reversed an upward trend, falling to their lowest level in six months. The news out of the home construction market was doubly disappointing, as permits for new home construction also fell 4% to 552,000, well short of analysts' forecast of 580,000 units.

Just when we thought we were out of the woods.

The Commerce Department report showed that housing starts fell 10.6% to their lowest level since April, or to 529,000 units. A Reuters' analysts' poll had estimated 600,000 units. Instead, the report delivered the biggest percentage drop since January. In September, there were 592,000 housing starts.
Most Popular
Five Large-Cap Stocks Poised to Climb
Most Commented
Obama the Spender Warns on Debt

The housing market has been sending mixed signals throughout its modest comeback. The September numbers, for example, showed a rise in new starts, but that came alongside a drop in permits.

While both housing starts and permits fell in October, the monthly numbers may end up being less distressing than they at first suggest: the looming expiration of the federal tax credit for first-time home buyers -- expected to expire at the end of October, but since renewed -- might have temporarily put a scare into, and freeze on, builders' appetites. The tax credit has been a big boon to the sector's turnaround.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $117.81 0.00%
FB $105.45 0.00%
GOOG $750.26 0.00%
TSLA $231.61 0.00%
YHOO $32.94 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs