NEW YORK (TheStreet) -- On Tuesday we learned that single-family housing starts rose 3.2% to a 516,000 annual rate.
This release is further evidence that the market for new homes is experiencing a slow recovery, but at half the pace of a healthy housing market.
The Federal Reserve's statement following Wednesday's FOMC meeting continued to describe the housing sector as "depressed," but as has been its habit, the central bank did not offer targeted help for the housing and mortgage markets.
On Monday, The National Association of Home Builders reported that its Housing Market Index, which gauges homebuilders' sentiment about the building of single-family homes in the U.S., rose one point in June to 29.This reading is the highest since May 2007, but it's important to keep in mind that this index ranges from zero to 100 with 50 being neutral. Although it's encouraging, the June reading is still significantly less than 50, which is an indication that the market for new homes remains weak. The inventory of new homes for sale was reported at a record low of 146,000 units in April.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV