This Day On The Street
Continue to site
ADVERTISEMENT
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

Homebuilders Vulnerable in Current Market

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.

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
Submit an article to us!
SYM TRADE IT LAST %CHG
BZH $18.05 0.00%
DHI $25.79 0.00%
HOV $3.15 0.00%
RYL $41.35 0.00%
TOL $35.81 0.00%

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs